Economy

Finance Minister: We are closely following the repercussions of the Russian-Ukrainian crisis on global prices and supply chains..and plan according to the most difficult scenario

Minister of Finance
6603 Fathy Al-Sayeh

Consulting with the International Monetary Fund on a new program to enhance our comprehensive structural reforms and the resilience of our economy to external shocks

Take the necessary measures and policies to ensure macroeconomic stability and ease the burden of this global crisis on citizens

We are keen to maintain the resilience of the Egyptian economy..by proactive steps that support growth, industry and export

Greater opportunities for the private sector in the development process.. to enhance its contributions and role in economic activity

The confidence of international institutions in the Egyptian economy confirms that we are on the right path, even with this crisis and the crushing global shock

The International Monetary Fund praises the Egyptian measures in facing the repercussions Global Crisis

Minister of Finance, Dr. Mohamed Maait, confirmed that the government is closely following the repercussions of The Russian-Ukrainian crisis on global prices and supply and supply chains, which coincides with a significant and accelerating rise in global interest rates, and plans to deal positively and flexible with these international challenges according to the most difficult scenario that assumes the length of the conflict, explaining that the global environment of the economy is witnessing successive variables that cast a shadow on various The economies of countries, especially emerging countries, and in light of this, the Egyptian government is keen to take all necessary measures and policies to ensure the stability of the macro economy, the sustainability of its ability to flexibly deal with unprecedented global challenges, and reduce the burden of this global crisis on the citizens and sectors most affected, by relying on the methodology Proactive steps in support of growth, industry and export; This will help provide more job opportunities, improve the standard of living of citizens and improve the services provided to them.6603 The minister added that the government decided to start talks with officials of the International Monetary Fund to consult on a new program to maintain economic and financial stability, enhance comprehensive structural reforms, the ability of the Egyptian economy to withstand in the face of external shocks, and the possible repercussions in the event of The continuation of the conflict in Ukraine, which results in the doubling of global pressures on the economies of countries, the intensification of the inflationary wave, and the associated disruption in supply and supply chains, praising the International Monetary Fund’s praise of the package of financial and social protection measures taken by the Egyptian government to deal flexible with the global crisis, and mitigate the effects of international economic repercussions on citizens.6603
The Minister explained, The new program with the International Monetary Fund does not include any additional burdens on citizens, but rather aims to preserve the gains of the economic reform program, and to sustain positive, rich growth rates. jobs, and maintaining a declining path of the deficit and debt rates of the GDP, by moving forward to provide greater opportunities for the private sector in the development process, in a way that leads to enhancing its contributions to economic activity.
The Minister indicated that the successive certificates of confidence that the Egyptian economy enjoys from international financial and rating institutions confirm that Egypt is proceeding with the The right way, and that its economy is able to achieve the goals even with this crisis and the crushing global shock, just as it was able to contain the repercussions of the “Corona” pandemic. The Minister stressed that there is a presidential mandate to maintain the safe economic path of the state, and to preserve the gains of economic reform, in a way that makes the government able to achieve the goals, meet the development needs of citizens, and expand The social protection umbrella and the absorption of the largest possible amount of global shocks.