Egypt achieved miracles despite COVID-19 crisis: Businessman Ayman Al-Gamil

CAIRO – 19 July 2020: The Egyptian state has proven over recent months that it is the most stable and efficient country in the political and executive levels in the region, especially with its success in managing the exceptional stage in the world due to the pressures of the emerging epidemic of coronavirus, Businessman Ayman Al-Gamil said Sunday.

Gamil noted the state accomplished things and many challenges, describing them as miracles that led us to that stable stage with the least amount of problems and burdens.

"With the preparation for the celebration of Eid Al-Adha during the next two weeks, we are close to completing the high school exams season, which was attended by more than 650,000 students with the highest level of safety precautions, and without recording any cases of injury," he said.

The businessman added, that the health system has also succeeded in containing the epidemiological situation, and isolation hospitals have started to return to their normal activities, and the markets are still in their usual state without any deficiencies in goods or changes in prices, with a very solid and positive economic performance, and bright future prospects in all expectations and reports of international institutions. “Among them are the Economist reports that placed Egypt second among the top developed countries in 2020, as well as the expectations of the International Monetary Fund and the World Bank, and the very positive vision of credit institutions and international investment banks.”

Gamil affirmed that what Egypt has achieved in recent years, thanks to the system of good governance, and the efficiency of the reform program that has extended for more than 4 years, as well as controlling structural imbalances in the budget, public finances, support programs, trade balances and payments, all helped to qualify the local market to absorb the shock caused by the global epidemic.

"Certainly we have been affected, but the amount of damage to Egypt is less than its counterparts in the region, and the level of solidity and stable performance is not comparable to what other markets have experienced, some of which are larger and more productive and financially abundant, and given the expectations of international institutions we will find that Egypt is within the first 10 who suffer minor effects, as well as expectations of their ability to overcome those effects within a short period compared to the markets and countries richer and more diversified in income, or the possession of huge natural resources,"Gamil pointed.

He stressed that the government was characterized by a high level of rationality and efficiency, and was according to the great challenges that the past period produced with its sharp fluctuations, and the readiness to prepare throughout the time, which helped it absorb all the strikes and urgent and effective dealing with it, and thanks to that vision and advanced work mechanisms succeeded In managing its daily obligations towards a huge market that includes tens of thousands of producers, investors, traders and importers, tens of millions of consumers, workers and people with limited incomes, as well as completing its national projects and the previously planned economic achievement map, containing the health crisis, managing a huge educational season, and closing the previous fiscal year budget without additional burdensome burdens, planning a new budget that ensures an equitable distribution of resources, and an interest in health and educational services and government investments, while creating an effective balance between preventive measures to counter the emerging virus, work requirements, production and growth, and the circulation of goods and services.

“All of these indicators confirm that we have a very stable and efficient system, and it allows us to be proud of the progress that this developed country is achieving to the level of miracle, especially under force majeure, it proved the failure of larger and richer countries than Egypt,” he said.