FILE – Minister of Planning Hala El-Said
CAIRO - 14 February 2022: The overall economic reform which was adopted by Egypt contributed to mitigating the knock-on effects of Covid-19, which hit the global economy hard, affirmed Planning and Economic Development Minister Hala El-Said.
The Egyptian private sector is a main partner in the development process, added the minister while commenting on the report of financing sustainable development in Egypt, which was launched by the Arab League Sunday in its fourth edition of the Arab Week for Sustainable Development.
Egypt has experienced significant instability from 2011 and until 2013, the minister said, adding that after this period, strenuous efforts were exerted to attain development in the country.
As many as LE 6 trillion was allocated to improve the citizens' standard of living and enhance infrastructure, she went on to say.
The economic and financial reform gave Egypt further impetus to deal with the Covid-19, added the minister.
"Without the strong economic reform program that Egypt has launched in 2016, we would not have been able to withstand the economic shocks caused by the repercussions of COVD-19", she added.
The minister also pointed out to the efforts made to diversify the sources of financing development plans and programs.
Egypt has also issued the green bonds and established sovereign wealth fund, added the minister.
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