Thursday’s papers focus on budget discussions after the military-backed interim government on Wednesday released figures projecting the economy would grow by 2.6 percent this year and 3.2 percent in financial year 2011/12.
Egypt’s flagship newspaper Al-Ahram runs a headline that reads, “The biggest budget in Egyptian history worth LE514.5 billion.” The paper notes that the budget proposals increase spending by 25 percent and would raise the minimum wage to LE700.
Egypt’s inflation and unemployment rates both hover around 12 percent, while minimum wage has remained less than LE100 since it was set in the 1980s.
In November, the National Council for Wages raised the minimum wage to LE400 after a court order to review the pay scale.
According to Al-Ahram, the new minimum wage will take effect in July. Privately owned Al-Shorouk quoted Finance Minister Samir Radwan as saying the minimum wage would "be gradually raised to LE1200 within five years."
Al-Ahram concludes that the new budget strengthens social welfare spending and increases pension funding by LE500 million to a total of LE3.2 billion. State subsidies are set to increase to LE164.7 billion from LE126 billion.
The budget assumes that expenditures will increase to LE514.5 billion from LE413.2 billion and revenue will rise to LE350.3 billion from LE285.8 billion, the paper said. The proposed budget would push the deficit to 10.95 percent, compared to 8.64 percent for FY2010/11, which ends this month.
Private daily Youm7, formerly a weekly paper, quoted Radwan as saying that the cabinet would also levy a new 10 percent sales tax on cigarettes.
Al-Ahram proved that it was right, since it was the only paper to report that the ousted president Hosni Mubarak and his two sons, Alaa and Gamal, would be tried before a court in Cairo on charges of corruption and ordering the killing of unarmed protesters.
Al-Ahram backed up its earlier reports that former President Hosni Mubarak and his sons would be tried in a Cairo court. According to the paper, Judge Abdel Aziz Omar, head of the Cairo Court of Appeals, ordered Mubarak transferred to the North Cairo criminal court. Judge Ahmed Rifat will preside over the trial scheduled for 3 August.
Youm7 reported that the Mubarak’s case was originally assigned to Judge Adel Abdel Salam Gomaa but he declined to take the case. Critics say Gomaa, who is overseeing the trial of Egypt’s once-feared former Minister of Interior Habib al-Adly, had ties to the former regime.
“I have so many cases to oversee and this is the reason why I apologized for not overseeing the case,” Gomaa told Youm7 in a phone interview.
The liberal daily Al-Wafd said Mubarak’s health may prove an obstacle to his trial. The paper quoted a former judge as saying the trial could be adjourned if Mubarak is in poor health when he appears in court.
Al-Wafd reported that the Supreme Council of the Armed Forces (SCAF), which took power when Mubarak was ousted on 11 February, plans to continue its dialogue with various revolutionary groups next week.
On Wednesday, 1000 people representing 100 coalition and revolution groups attended the first meeting with SCAF members, according to Al-Ahram.
Egypt's papers:
Al-Ahram: Daily, state-run, largest distribution in Egypt
Al-Akhbar: Daily, state-run, second to Al-Ahram in institutional size
Al-Gomhurriya: Daily, state-run
Rose al-Youssef: Daily, state-run
Al-Dostour: Daily, privately owned
Al-Shorouk: Daily, privately owned
Al-Wafd: Daily, published by the liberal Wafd Party
Al-Arabi: Weekly, published by the Arab Nasserist party
Youm7: Weekly, privately owned
