The Egyptian Minister of Planning and Economic Development, Hala Al-Saeed, expected that Egypt would achieve economic growth by 5.6 percent during the 2022-2021 fiscal year.
Minister Al-Saeed pointed out that Egypt has firmly faced the (Corona) crisis thanks to the reforms that have been implemented since 2016, considering that despite the economic repercussions of the (Corona) epidemic, the economic growth is expected to strongly rebound to 5.6 percent in the 2022 fiscal year. 2021, which ends at the end of June of next year.
She also affirmed the importance of political stability as a condition that precedes investment, explaining that ending the state of emergency in all of Egypt is a reflection of the country's stability and its attractiveness to international investment, stressing that the investment climate in Egypt is improving. Pointing out that Egypt ranked second among the most attractive Arab destinations for foreign direct investment in 2020, and the largest recipient of foreign direct investment in Africa in 2020, where inflows into the country represented 15 percent of the total $39.8 billion coming to the continent.
Al-Saeed affirmed the government's keenness in the coming period to pave the way for the private sector to take the lead in investing and boosting economic growth.
Source (Asharq Al-Awsat Newspaper, Edited)
