Egyptians face choice between two economies

Egypt's leaning towards the private sector to stimulate the economy or reverting to a more nationalist agenda are two of the possible outcomes from the presidential election that is expected to end today.

The race appears to have come down to a few leading contenders. The economic platforms of the front-running candidates - including Amr Moussa, a former foreign minister who spent the last decade in the Arab League, and Abdel Moneim Aboul Fotouh, once a leader of the powerful Muslim Brotherhood - offer the Arab world's most populous country two opposing paths.

Ashraf Swelam, an economic adviser to Mr Moussa, said the former minister's economic agenda focused on decentralising government and spreading the power of the state across Egypt.

This includes reviewing past privatisation deals, shifting emphasis to the private sector and moving money-losing state-owned institutions under a mega state-owned holding company with a chief executive. Such a programme would signal a move to a more profit-driven, capitalist model.

Mr Moussa, who has positioned himself as the experienced choice, has also flagged up the importance of mobilising Arab funds, suggesting that his decades of diplomatic experience would make him well placed to do this.

Dr Aboul Fotouh, whose campaign has attracted the support of not only young Islamists but a growing number of liberals, has homed in on an Islamic-based socialist economy that prioritises the most needy through social programmes in housing, health and education and by introducing legislation to encourage Islamic banking and finance.