The New Nation - Internet Edition

AP, Cairo

Egyptian President Hosni Mubarak promised Saturday to push ahead with economic reform and step up efforts to combat poverty, despite the impact of the international financial crisis on Egypt's economy.

In a speech to his ruling National Democratic Party convention, Mubarak also ordered the government to develop strategies to mitigate the effect of the crisis on Egypt's two main sources of income - tourism and exports.

The convention is being held amid increasing skepticism of the government, political uncertainty and worsening economic woes in the Arab world's most populous nation. "I want to stress the party's and government's commitment to economic reform and our determination to continue that without hesitation," Mubarak said in an hour-long speech.

"But, at the same time, I want to stress that social development and combating poverty is part and parcel of this vision," said Mubarak to almost 3,000 party members. He said the government will earmark the equivalent of about $660 million in the next three years to help "break the cycle of poverty."