Egypt's former Finance Minister Hazem el-Beblawi
Cairo - Mohammed Abdullah
Egypt's former Finance Minister Hazem el-Beblawi has claimed the government's mispricing of oil and gas is the single reason behind the nation's economic slump.
Speaking to Arab Today, Beblawi said that although Egypt's energy resources could be used to boost its economy, the government's export policy was hindering progress.
The former minister urged Arab countries to help Egypt and Tunisia overcome their current political and economic challenges, because Western countries are struggling due to the financial crisis.
Beblawi urged Arab states to come together and form a strategic economic alliance so that they could achieve development and prosperity in the future.
He argued that the countries that have shown notable economic development in recent decades, such Japan and China, used the industrial revolution as a pre-cursor to technological development.