Nearly two months after the military coup that ousted Egypt’s elected President Mohammed Morsi, Egypt’s state-run newspapers are now recognising Morsi and his government’s achievements. Al-Ahram newspaper published an economic report on Sunday that reveals Egypt had achieved a trade surplus for the first time in 50 years during the first half of 2013.
According to the report, Egypt had a trade surplus worth around 15 billion Egyptian pounds, with total exports rising to 90.5 billion Egyptian pounds, while the volume of imports did not exceed 75 billion Egyptian pounds.
Hatem Saleh, the former Minister of Trade and Industry, commented on the report, saying: “the trade surplus that amounts to 15 billion Egyptian pounds is a true achievement for Hesham Qandil and Mohammed Morsi. This is the first achievement for Egyptian trade in 50 years.”
Saleh added on Facebook: “The achievement is a result of joint efforts of the Ministry of Commerce, the Central Bank and several other institutions amidst extremely difficult economic and political conditions. God has promised to reward those who work hard. The trade surplus is a natural result of the increase in Egyptian exports during the first six months of 2013 to 90.5 billion pounds while imports did not exceed the barrier of 75 billion Egyptian pounds before the military coup on July 3.”