After referendum Egypt approves new constitution

December 27, 2012

Egypt voters approved a constitution drafted by President Mohamed Mursi’s Islamist allies. The new constitution was adopted with 63.8% of the vote which gave Islamists their third consecutive victory at the polls since Hosni Mubarak was ousted in a 2011 revolution.

The constitution draft was widely opposed by Mursi’s Leftist, liberal, secularist and Christian opponents because of vague language and lack of clarity over what would be status of minorities.

What next?

With this approval, the road for another parliamentary election is clear which is expected in about 2 months.

Egypt has also imposed currency limit of $10,000 in foreign currency, to halt capital flight. Travelers can’t travel in or out of the country with more than this limit. Some Egyptians have begun withdrawing their savings from banks in fear of tougher restrictions.

« Previous Post Next Post »