Amre Moussa, the front-runner in Egypt’s presidential race, is pledging to boost public spending in his first year in office to lower the highest unemployment rate in at least two decades.
Moussa, a former foreign minister and secretary-general of the Arab League, would mobilize funds from Arab countries and international lenders to spend on infrastructure, according to his manifesto published earlier this month. He also pledges to restore security to encourage foreign investment, lowering yields that have surged about 50 percent since last year’s uprising.
“We will need to pump money into the economy to create jobs,” Ashraf Sweilam, Moussa’s economic adviser, said in a telephone interview from Cairo. “We will not increase the budget deficit a lot, especially if we restore security. This will improve sentiment and help us achieve a growth rate that counterbalances” the increased spending, he said.
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