Finance minister: Recovery plan helps protect economic state’s safe economic track

Egypt’s Minister of Finance Mohamed Maeet said Tuesday the state economic recovery plan being implemented by his ministry upon presidential directives made the economy able to deal with world challenges including COVID-19 and the Russian-Ukrainian crisis.

During a meeting with Abu Dhabi Bank delegation, the minister said the recovery plan helps absorb domestic and foreign shocks, mitigate the repercussions of the unprecedented inflation wave and support the most affected sectors.

He added said the document of the “state ownership policy” includes a national strategy to empower the private sector, deepen its participation in the economic activities, sends a message of assurance to local and foreign investors and increase the trust of international institutions in the Egyptian economy.

He said that Egypt heads towards the green economy transformation in the Middle East and North Africa as it was the first to issue government sovereign green bonds worth 750 million dollars since September 2020, a matter that led to luring more investors.

He added the preparations being made to host COP27 in Sharm el Sheikh in November reaffirm the state keenness on the clean investment and green economy transformation through launching eco-friendly projects.

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