Wednesday 15 September 2010

Egyptian business faces up to political uncertainty | beyondbrics | FT.com

For many years Egyptian businessmen have struggled with the ups and downs of economic reforms, but one thing they never worried about was who is in charge of the Arab world’s most populous country. Like it or not, Hosni Mubarak (pictured) has been president since 1981 and he has dominated Egyptian politics, never allowing a credible opposition to organise or pose a threat to his rule.

Now, however, and for the first time in decades, the business community is grappling with political uncertainty as next year’s presidential election looms.

Mr Mubarak’s health may not allow him to stand again - he is 82, after all. His ex-investment banker son, the 47-year-old Gamal, is being promoted as a successor by the younger wing of the ruling National Democratic Party, but it is not clear whether he will be the choice of the military, an institution with a traditionally strong voice in the choice of presidents.

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