economy
Entering its third year, the Human Capital Project includes over 80 countries working to invest in human capital for a “green, resilient, and inclusive recovery," she said.
“Collective global solidarity creates the necessary space for an inclusive and sustainable environment that is resilient to future shocks” said Al-Mashat.
El-Said added during Human Rights Conference… "Building a Post-Pandemic World" that the global economy witnessed contraction of 3.9% during 2020 due to the repercussion of COVID-19, El-Said stated, noting that the global economy lost around $5.8 trillion during the crisis year.
Maait said the budget deficit decreased to stand at 7.9 percent of Gross Domestic Product (GDP), while the initial surplus was put at 1.8 during fiscal year 2019/2020.
According to IHS Markit, this decline signaled a modest deterioration in the health of the sector.
Market capitalization gained about EGP 6 billion to hit EGP 651.6 billion at closing, after transactions totaled EGP 1.1 billion.
International Cooperation Minister Rania el Mashat chaired the coordinating meeting which was held on Wednesday via video conference.
The balance sheets of the banks working in Egypt, except CBE, have risen to EGP 7.022 trillion by the end of December 2020, up from EGP 5.856 billion by the end of December 2019.
EBRD clarified in a statement that the financing package is for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).
The ambassadors of the European Union and Spain visited the Aga Khan projects in Egypt, and expressed their admiration for Al-Azhar Park.
President Abdel Fatah al-Sisi received Tuesday a phone call from Sri Lanka President Gotabaya Rajapaksa to discuss bilateral relations.
The minister cited reports issued by international economic institutions about Egypt’s economy and their optimistic and positive outlook on Egypt’s economic performance for the coming years.
The average growth rate of the Egyptian economy during the first half of the current fiscal year amounted to about 1.35 percent from July to December last year.
“Growth is projected to reach around 2.8 percent in FY20/21, and to rebound strongly to about 5 percent over the medium term, benefitting from the authorities’ continued commitment to reforms and renewed IMF support,” NBK foresaw in a report
The new move comes within the framework of the Egyptian state and the Ministry of Planning's efforts to support entrepreneurship and encourage youth to create job opportunities by themselves
The south-bound convoy included 37 ships with a total cargo of 2.8 million tons, while the north-bound convoy included 35 ships carrying 2.5 million tons, he added.
"Egypt is the only MENA country to have avoided a contraction in 2020. Still, high-frequency indicators."
The Ethiopian side has set conditions that their Egyptian counterpart should come to Ethiopia to negotiate this dispute, but the Egyptian side rejected due to the lack of guarantees.
The unemployment rate decreased to 7.3 percent in the first quarter of the current fiscal year, compared to 9.6 percent in the fourth quarter of 2019/2020.
Maait added that the strong political will and courage with the support of the great Egyptian people contributed to achieving this growth with economic reforms.
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