Egypt Keen on Facing All Economic ChallengesSource: www.export-egypt.com 11/23/2016, Location: Africa |
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 Industry and Trade Minister Tarek Qabil affirmed the keenness of the Egyptian government on facing all economic challenges and overcoming the current unprecedented hardships.
Addressing an Egyptian-Portuguese business forum that was held in Lisbon earlier in the day with President Abdel Fattah El Sisi attending, the minister highlighted the importance of Portugal as an economic partner to Egypt and the latter's eagerness to enhance joint trade and investment relations. The Egyptian government targets a growth rate of 6 percent during the fiscal year 2017/2018, an increase of 19 percent in investments and decreasing the financial deficit to 8.5 percent by the year 2018/2019, the minister said. The Egyptian House of Representative approved the government’s economic plans earlier this year, Qabil said, adding that they included a comprehensive economic roadmap aiming to improve the economic status and lure more investments. Allocation of industrial lands became high on the list of the government’s priorities at the current stage, the minister said. Egyptian economy is Africa’s second largest economy and has large potentials, he added. Within this context, the minister said it was important to increase Portuguese investments in Egypt, noting that they were estimated at dlrs 404 million. Among other joint cooperation projects, the minister said a joint business council should be formed and a direct flight be operated. |
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