Structural reforms aim to diversify Egypt’s economy, increase flexibility: Minister of Planning

Published 15 Dec,2020 via Daily News Egypt - Egypt’s Minister of Planning and Economic Development, Hala El-Said, has participated in a conference, entitled “Major Global Transformations: Future Prospects for the Egyptian Economy”, organized by the Faculty of Economics and Political Science at Cairo University.

During her speech, El-Said reviewed the development experience of Egypt in recent years and the efforts of the Egyptian state to achieve economic reform, pointing to the great political, economic, and social changes and challenges that Egypt has witnessed and the consequent accumulation of structural imbalances that the Egyptian economy has suffered from for many decades, which negatively affected most macroeconomic indicators, as well as the severity of challenges having increased in light of the political and economic changes, both regionally and internationally, and the outbreak of the Covid-19 pandemic and its associated negative economic and social health effects.

El-Said added that the state has set the Egypt Vision 2030 “to represent the national version of the UN goals to achieve sustainable development and the general framework organizing interim plans and programs for work over the coming years.” The government’s implementation of many reforms has led to the first phase of the national program for economic and social reform since November 2016, aimed at achieving macro stability and comprehensive growth, which was reflected in the positive indicators that the Egyptian economy witnessed during 2020 and before the outbreak of the Covid-19 crisis.