PM: "Clarify Egypt's Vision Toward National EconomySource: www.export-egypt.com 6/4/2022, Location: Africa |
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Egypt has prepared the "State Ownership Policy Document" in order to shed light on its policy toward the national economy within the upcoming period, said Prime Minister Moustafa Madbouli.
Since President Abdel Fattah El Sisi took office in 2014, the State has started to draw up a clear-cut vision to deal with all the challenges besetting it, added the premier during his participation in a session held under the rubric "The private sector... and the investment opportunities in Egypt," which was organized Friday on the sidelines of the proceedings of the Islamic Development Bank Group (IsDB)’s 2022 annual meetings that are held in the Red Sea resort city of Sharm El Sheikh, according to a statement issued by the Cabinet's media office on Friday 03/06/2022. In 2014, Egypt experienced one of its most serious energy crises as well as problems in the sectors of drinking water, sanitary drainage, transportation and communications, PM went on to say. Consequently, it was necessary to take swift actions to deal with such challenges, with the aim of luring investments, added the premier. Talking about the State's vision to deal with the upcoming challenges, the premier said that Egypt witnessed two revolutions in 2011 and 2013, noting that during this period the political condition was so difficult, which in turn affected also the economic conditions in the country. He also pointed out to the current rate of population growth, noting that the population of Egypt has increased by around 20 million people in 10 years. The premier further referred to the reform economic program which was adopted with the help of the International Monetary Fund (IMF) and other international institutions. Egypt has recovered strongly from the Covid-19 pandemic-induced global economic slowdown, helped by the government's ambitious reform program, he boasted. Despite all challenges, the country’s growth rate increased by 7.8% in the first nine months of the current fiscal year 2021/2022, he noted. Regarding Egypt's vision on the upcoming period, Mabdouli said the government has taken several important steps to encourage the private's sector participation in several projects. |
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