EGYPT'S 2021/2022 plan “exceptional” due to coronavirus pandemic: Planning Min.

CAIRO – 30 May 2021: Egypt witnessed several crises that reflected on the economic performance, and then the years (2015/14 and 2016/15) witnessed the stage of institutional reconstruction, Minister of Planning and Economic Development, Hala El-Said, said Sunday.

El-Said pointed out that the Egyptian state adopted the National Program for Economic and Social Reform, which resulted in an escalation of economic growth rates to 5.6 percent in 18/2019 and during the first half of 19/2020.

This came during her attendance at the Senate plenary session on Sunday headed by Counselor Abdel Wahab Abdel Razek, President of the Senate, and in the presence of the Senate members.

El-Said added that the crisis of the outbreak of the Coronavirus pandemic imposed itself on the scene when laying out the general framework for the state plan for the year 21/2022, detailing its sections and defining its targets, which made the design of the plan begin in its first section by reviewing contemporary global economic developments in light of the Coronavirus pandemic, which constitutes a non-challenging a precedent for the health and economic systems of all countries of the world.

The minister explained that what is reassuring to emerging and developing economies, despite the severity of the crisis, is that the expectations of international financial institutions, such as the International Monetary Fund, were more optimistic for those countries during 2021 compared to advanced economies (6 percent) compared to (3.9 percent).

She indicated that the medium-term plan came to target a growth rate of 6.4 percent in 20/2021, then 6.8 percent in 21/2022, stressing that despite the spread of the Corona pandemic in the world, its repercussions on Egypt were limited, as 3.6 percent-growth rate through 19/2020 is a major achievement.

El-Said also reviewed the development framework, the main objectives of the 21/2022 plan, and the main pillars of the plan.

On top of which comes the commitment to implement the presidential mandates, in line with the goals of "Egypt’s Vision 2030", and to fulfill the constitutional entitlements to public spending allocations on the axes of human development, while continuing efforts to contain the Coronavirus pandemic, and to address its economic and social implications.

 All this is within a general framework of completing the implementation of the national program for economic and social reform and supporting low-income social groups, especially those most affected by the repercussions of the pandemic.