Gov’t seeks to adopt clear policies for stabilising macroeconomics

Egypt’s Minister of Planning, Economic Development and International Co-operation Rania el-Mashat asserted the strength of relations between Egypt and the UK at the trade and investment levels, saying that the volume of trade exchange between both countries in 2024 reached 4.7 billion pound sterling.

This came during Mashat’s meeting with members of the British Egyptian Business Association (BEBA) on the sidelines of BEBA annual suhoor banquet (predawn meal) in the presence of British Ambassador to Egypt Gareth Bayley. 

Mashat said that Britain is one of the biggest investors in Egypt via a number of private sector companies, pointing out to the relation with the British International Investment (BII) whose investment portfolio reaches 547 million pound sterling in 64 companies.

Mashat reviewed the government efforts to upgrade economic performance, promote growth, increase the employment rates and promote confidence in the business environment.

She pointed out that the Ministry of Planning drew up a framework for sustainability and finance for economic development to achieve harmony between the mechanisms of planning and international co-operation to achieve comprehensive and sustainable development.

For achieving economic development, the government was keen on adopting clear policies for stabilising macroeconomics, she said, highlighting the implementation of the national programme of structural reforms to diversify the resources of growth of Egyptian economy, boost debt sustainability and increase growth and competitiveness.

The private sector leads the efforts exerted for achieving economic development and sustainable growth, she said.

Mashat shed light on the great diversity in the Egyptian economy that has a developed infrastructure and industrial base in addition to skillful laborers.