Egypt’s Mursi in talks with PM to make Cabinet changes

Egypt’s President Mohamed Mursi on Wednesday said he would shuffle his government to tackle pressing economic problems.
 
The announcement was made in a national address during which he hailed a new constitution backed by his Islamist allies.
 
Mursi said he was consulting with Prime Minister Hisham Qandil on the ministerial changes.
 
“I will deploy all my efforts to boost the Egyptian economy, which faces enormous challenges but has also big opportunities for growth, and I will make all the changes necessary for this task,” he said.
 
“The coming days will witness, God willing, the launch of new projects … and a package of incentives for investors to support the Egyptian market and the economy,” he added.
 
In his first address to the nation since the adoption of a new constitution, Mursi urged all political powers to take part in a national dialogue to resolve lingering tensions.
 
Mursi signed into law a new constitution shaped by his Islamist allies, a bitterly contested document which he said would help end political turmoil and allow him to focus on fixing the economy.
 
Anxiety about a deepening political and economic crisis has gripped Egypt in recent weeks, with many people rushing to buy dollars and withdraw their savings from banks.
 
The Egyptian pound tumbled to its weakest level against the U.S. currency in almost eight years on Wednesday. 
 
The new constitution, which the liberal opposition says betrays Egypt’s 2011 revolution by dangerously mixing religion and politics, has polarized the Arab world’s most populous nation and prompted occasionally violent protest on the streets.
 
The presidency announced on Wednesday that Mursi had formally approved the constitution the previous evening, shortly after results showed that Egyptians had backed it in a referendum.
 
The text won about 64 percent of the vote, paving the way for a new parliamentary election in about two months.
 
The charter states that the principles of sharia, Islamic law, are the main source of legislation and that Islamic authorities will be consulted on sharia – a source of concern to the Christian minority and others.
 
The referendum result marked yet another electoral victory for the Islamists since veteran autocrat Hosni Mubarak was toppled in 2011, following parliamentary elections last year and the presidential vote that brought Mursi to power this year.

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