Egypt’s Finance Minister Mohamed Maait said Friday that the Egyptian economy could withstand and overcome the current global challenges, including the supply chain disruptions, and price hikes in goods and services.
Maait’s comments came during his meeting with Swedish ambassador in Cairo Håkan Emsgård and representatives of Swedish companies in Egypt.
“The Egyptian economy to continue its recovery, thanks to the huge development efforts, exerted by the government, which made the economy more resilient against internal and external shocks,” Maait said.
Egypt recorded 6.6 percent growth in by the end of June 2022, the highest since 2008, and primary surplus by 1.3 percent for the fifth year in row, compared to 20-year primary deficit, he added.
For his part, Emsgård voiced his country’s confidence in the Egyptian economy and its potentials, reiterating Stockholm eagerness to boosting investment and economic ties with Cairo.