Minister of Finance Mohamed Maeet reviewed Egypt’s experience in economic reform process, which proved successful as testified by major international financial institutions.
In a speech he delivered on Saturday at the 46th annual meeting of the Islamic Development Bank Group (IsDB Group) in Tashkent, Uzbekistan, Minister Maeet stressed that the remarkable improvement of economic indicators enabled the Egyptian government to expand the development of economic policies.
He said Egypt is proceeding with social protection programmes to enable citizens to reap the fruits of the economic reform measures. He said the Egyptian countryside development project, which is part of the presidential “Decent Life” Initiative, is a model for development partnership with the private sector.
Egyptian economy shows stronger performance, resilience and ability to absorb shocks induced by the coronavirus pandemic on the economy, Maeet told the event.
Egypt has succeeded in maintaining the balance between economic stability and policies amid the pandemic, thus protecting social and health spending and implementing major structural reforms, the minister of finance said.
Maeet asserted that the economic gains helped the government to move ahead in carrying out several structural reforms and development projects, without any additional burdens on citizens.
Thanks to these reforms, the Egyptian economy is set to be directed towards inclusive and sustainable growth, thereby contributing to its resilience and maximising its ability to absorb internal and external shocks. The government is strongly carrying out digital transformation projects and strengthening financial inclusion.
Maeet invited his Uzbek counterpart to visit Egypt in the near future. For his part, Uzbek Minister of Finance Timur Ishmetov expressed his appreciation for this invitation and said he looked forward to visiting Egypt.
On the sidelines of the event, Minister Maeet held a series of meetings with his Uzbek, Saudi, Kuwaiti and Sudanese counterparts.
They discussed ways to advance economic relations among their respective countries, encourage investors to explore opportunities for joint investment, and set out mechanisms to increase air traffic in the field of passenger and cargo transport.
The minister of finance of Uzbekistan expressed his country’s aspiration to benefit from the Egyptian experience in the field of economic reform, taking into account the social dimension.
The Uzbekistan meetings, which wrapped up its activities yesterday, attracted more than 2,000 participants and offered an ideal platform for decision-makers to discuss challenges and explore IsDB Group member countries’ opportunities.
