The Egyptian Minister of Finance: We aim to achieve a growth rate of 6% and distribute the fruits of growth in a more equitable manner


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The Egyptian Minister of Finance: We aim to achieve a growth rate of 6% and distribute the fruits of growth in a more equitable manner

Reuters Amr Abdallah Dalsh

Egyptian Finance Minister Mohamed Maait (file photo)

Egyptian Finance Minister Mohamed Maait affirmed that the state is determined to complete the process of economic reform, with its keenness to achieve the greatest degree of justice in distributing the fruits of economic growth.

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Maait stressed the need for “citizens to reap more fruits of development, in a way that is tangibly reflected in improving the standard of living and improving the quality of life.”

He explained that this approach was manifested in the national project for the development of the Egyptian countryside, “A Dignified Life” at a cost of 800 billion pounds, in addition to the “Solidarity and Dignity” program, support for food commodities, and the implementation of housing projects aimed at providing 1.5 million housing units for low- and middle-income people in order to provide A decent housing for the Egyptians, and the elimination of slums.

The minister added, during his meeting with the Dutch ambassador in Cairo, Han Moruts Schapfeld, that the government aims to achieve an economic growth rate of about 6% after overcoming the Corona virus pandemic, and reduce the total deficit to 6.7% of GDP, and achieve a primary surplus of 1.5% to ensure the stability of the path. The debt of the balancing agencies to the GDP by the end of the current fiscal year.

He pointed out that the economic gains that we achieved through the elaborate implementation of the economic reform program effectively contributed to facing the negative repercussions of the Corona crisis, in a way that was positively reflected in all indicators of economic performance, and was praised by international institutions.

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The minister added that the state has made great efforts over the past years to invest in infrastructure projects.

He pointed out the government’s keenness to provide a favorable and stimulating environment for the private sector, which contributes to maximizing its role in the development process as it is the locomotive of economic growth, pointing out that the shares of a number of government companies will be offered on the stock exchange during the next stage.

For his part, the Dutch ambassador expressed his country’s interest in strengthening cooperation with Egypt in many fields and exchanging experiences between the two countries, especially within the framework of a capacity building program in various sectors.

Source: RT


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