CAIRO – Egyptian Finance Minister Mohamed Maeet underlined his confidence in the strength of the Egyptian economy and its flexibility in dealing with consecutive international challenges since the outbreak of the coronavirus pandemic.
He made the remarks on Thursday during a meeting with the Egyptian Businessmen Association (EBA) and the Egyptian Lebanese Businessmen Friendship Association (ELBA).
He said “we managed to overcome the fallout of the current international economic crisis.”
He said the government launched a financial package of LE135 billion in line with presidential directives to mitigate the impact of the international crisis on people and economic sectors.
He said the Egyptian economy is growing in view of the national projects being accomplished, noting that $400 billion were spent over the past seven years for developing the infrastructure.
He said Egypt seeks to boost its exports to $100 billion, referring to the progress realised in upgrading the tax mechanism.
He added that a new stage of fully mechaniSed tax mechanism will be launched as of July to help merging informal economy into the formal one.
