News analysis: Egypt's interim gov't faces significant challenges: analysts

CAIRO, July 17 (Xinhua) -- Egypt's interim government, formed two weeks after toppling Islamist president Mohamed Morsi, is facing major political and economic challenges amid Islamic forces ' rejection who were excluded in its line-up, as well as public's high expectations, analysts say.

BROTHERHOOD'S REJECTION

The new government, headed by Prime Minister Hazem Beblawi, was sworn in on Tuesday with no one from Islamist parties assuming any portfolios, as the Muslim Brotherhood (MB) refused to take part in the government, insisting the return of Morsi to power.

"A mix of technocrats and revolutionary personalities in the new government without Islamists, will make it face impossible mission," Yousri el-Azabawi, a political expert in Ahram Center for Political and Strategic studies, said.

The 34-minister cabinet includes three Copt ministers, and four ministers from main opposition National Salvation Front, namely ministers of industry and trade, international cooperation, higher education and social solidarity.

Ahmed Aaref, MB's spokesman said the group rejected the new government because it is "generated from illegitimate regime that couldn't be recognized."

"Brotherhood leaders seek violence and they will not stop it unless they are given assurances of safe exit," Azabawi told Xinhua, adding "We are in need of real reconciliation dialogue different from that superficial one that overshadowed Morsi's rule. "

Azabawi also sees that the new government line-up has defied expectations from many people as it compromised a large number of ministers, but without youth.

Ahmed Baan, a political researcher at Ahram center for strategic and political studies and ex-member of the MB, said the new cabinet sent negative signals to the youth who took to the streets asking for changes, and couldn't meet their aspirations.

"To bring the same remnants of Mubarak into the new lineup will add more suspicions over ousting the Islamist leader by a military coup for the benefit of the Mubarak regime," he added.

ECONOMIC EXPECTATIONS

The new government has to rescue Egypt from its severe economic crisis, Azabawi added.

Saudi Arabia and the United Arab Emirates approved eight billion U.S. dollars last week in aid to Egypt, an reassuring message to Egyptians who are worrying about their economy, but analysts say the aid will not be a magic wand to solve Egypt's economic crisis once and for all.

Among priorities of Beblawi's government is likely to be the conclusion of a long-negotiated 4.8-billion-dollar International Monetary Fund (IMF) loan, Abdel Aziz Hegazy, a professor of finance at the American University in Cairo said.

In spite of receiving large sums from Gulf countries, Hegazy still see the IMF loan as a necessity. "It will give assurances and confidence for investors and other international monetary institutions in the Egyptian economy," he said.

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