Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that the economic and social reform program that was implemented in 2016 contributed to improving indicators and strengthened resilience, noting that these reforms would lead to macroeconomic stability, inclusiveness and sustainable growth.
Al-Saeed pointed to investing heavily in developing the infrastructure in order to enhance the competitiveness of the Egyptian economy and place it on the investment map, stressing that this successful economic program, which was praised by all international institutions, has effectively contributed to improving all economic indicators and strengthening the resilience of the Egyptian economy.
Al-Saeed pointed out that the Egyptian government adopted a proactive strategy very early, as it took all necessary measures to mitigate the negative effects of the crisis on the most vulnerable segments of the population, as the main objectives were to contain the spread of the virus without imposing a complete closure, and to support economic activity through sector-specific measures, together with worker support, ensuring income stability, closely monitoring developments related to the crisis and updating forecasts accordingly.
Al-Saeed said that since February 24 until now, the Egyptian government has issued more than 380 policies implemented by 70 institutions targeting all social groups and sectors, confirming Egypt’s endeavour to support sectors that have witnessed negative effects of partial closure measures, to include these sectors: tourism, aviation, small and medium enterprises, and agriculture.
Al-Saeed added that some of the policies adopted by the state focused on supporting economic activity with the aim of boosting domestic demand, especially since it is the first time that a shock affects the supply and demand side at the same time, adding that support