International Cooperation Minister Fayza Aboul Naga told the People’s Assembly Foreign Relations Committee that foreign embassies had been financing organizations and individuals to carry out unlawful activities in Egypt and offering "cash" directly "from hand to hand.” Naga also stated that Egypt can do without U.S economic assistance, although she did not comment on the $1.3 billion military aid budget.

ELECTIONS: 

1) The Muslim Brotherhood has reportedly settled on a presidential candidate who it says is a well-known public figure to support in the upcoming election. The Brotherhood had previously announced that it would postpone the announcement of its nominee until after the close of the candidate registration period in April. Spokesman Mahmoud Ghozlan said that the candidate the group will back meets all the criteria it had already established. He said the group will help its chosen candidate get the required approval of 30 MPs, after coordinating with their respective political parties. According to the Presidential Elections Law, a non-partisan candidate must gather notarized signatures from 30,000 citizens from 15 provinces or get the support of 30 MPs to be able to run for president. [Al-Masry al-Youm, English, 3/13/2012]

2) The Wafd’s high council will call for a re-vote on the party’s presidential endorsement over sharp divisions between supporters of Mansour Hassan and Amr Moussa. The Wafd voted to endorse Mansour Hassan on March 8, over objections from younger party members sympathetic to Amr Moussa. Sources close to the party expect the re-vote to confirm Hassan’s nomination. [al-Shorouk, Arabic, 3/13/2012] 

PARLIAMENT: 

3) The SCAF is reportedly negotiating with the Muslim Brotherhood to preempt a vote of no confidence in Kamal Ganzouri’s government. High level sources claimed that the SCAF has offered to replace two ministers, Social Affairs Minsiter Najwa Khalil and Justice Minister Abdul Hamid, in exchange for assurances that Ganzouri’s cabinet will be allowed to govern for the duration of the transitional period. [al-Masry al-Youm, Arabic, 3/13/2012] 

NGO INVESTIGATION: 

4) International Cooperation Minister Fayza Aboul Naga told the People’s Assembly Foreign Relations Committee that foreign embassies had been financing organizations and individuals to carry out unlawful activities in Egypt and offering "cash" directly "from hand to hand.” Naga also stated that Egypt can do without U.S economic assistance, although she did not comment on the $1.3 billion military aid budget. [State Information Service, English, 3/13/2012] [UPI, English, 3/13/2012] 

5) State Department spokesperson Mark Toner said that it is up to the Egyptian people to decide whether they want to continue receiving assistance from the United States. “We believe it’s in the interest of the Egyptian people, but certainly it’s in the national interests of the US, to help Egypt in its transition to full democracy… “And certainly, it is within their own right to decide whether or if they want this assistance,” Toner said. [al-Masry al-Youm, English, 3/13/2012] 

FOREIGN POLICY: 

6) General Murad Muwafi, the head of Egypt’s General Intelligence left Cairo on Tuesday for a visit to Saudi Arabia for meetings to discuss the Syrian crisis and opportunities for improving bilateral cooperation. Naga also told parliament that Egypt can do without U.S. economic assistance, although she did not mention the $1.3 billion in military aid. [al-Ahram, English, 3/13/2012]

ECONOMY: 

7) Egypt’s finance minister denied a report that the government had raised its budget deficit forecast for this fiscal year to 150 billion Egyptian pounds, saying recent reform measures taken by the government to get the deficit under control had succeeded. The size of the deficit was not expected to exceed 144 billion Egyptian pounds ($24 billion), and not 150 million as mentioned by some media, he said. [Reuters, English, 3/13/2012] [al-Masry al-Youm, Arabic, 3/13/2012] 

8) Amanie Advisors and Sarie El Din, Hegazy and Associates have announced that they are hosting the second International Sharia Investment Convention on March 20-21 to explore ways forward for Egypt’s economy through Islamic finance and banking. [Business Intelligence, English, 3/13/2012]

Photo Credit: AP

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