Egypt's President Calls Halt to Privatizations

Egypt will keep all state-owned firms in public hands, President Mohamed Morsi said in a speech on Tuesday, calling a halt to a flawed privatization program that failed to kick-start the country’s economy.

“There will not be any more selling of the public sector again. That is over,” said Morsi in a speech to metal industry workers in a Cairo suburb during celebrations ahead of Labor Day.

Egypt’s economy has slowed rapidly since the popular uprising that toppled President …

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