Morsi assures Egyptians he will kickstart the economy Cairo - Akram Ali Egyptian President Mohammed Morsi has announced his government will establish a Council for Economic Development, in an attempt to boost a national economy reportedly in freefall. In a post on social networking site Twitter, the President claimed the council would support ordinary Egyptians’ “dreams” of achieving “real economic progress.” President Morsi had previously confirmed he is making efforts to introduce policies that combated soaring unemployment, poverty and the current high cost of living in the country. In a recent address to the Shura Council, Morsi stressed his government would enhance the economy, claiming that Egypt would not go bankrupt. Morsi echoed calls from Egyptian Minister of Investment Osama Saleh who claimed development of the private sector and job creation was a “necessity” to prevent much-needed investment from leaving Egypt.