Economic program aims at reducing dependence on aid
Minister of Finance Amr El Garhy
Cairo - Mena
Minister of Finance Amr El Garhy has said Egypt's economic program is integrated with the aim of achieving the highest level of economic growth and reducing dependence on aid.
Addressing the economic reform session on the sidelines of the youth conference here on Tuesday in the presence of President Abdel Fattah El Sisi, the minister said "We have been using expression economic reform for 30 years and conduct incomplete reforms either with regards to the timing of taking decision or not dealing with important economic files."
From 1997 and till 2003, the government defended the Egyptian pound for six years and we repeated the same stance from 2011 till 2016 until the foreign reserve faded away, said the minister, adding the problem does not only lie on the decrease of reserve but on its impact competitiveness and industry.
The minister added that the volume of industry and exports does not exceed 20 billion dollar while it stands at 200 billion dollars in countries such as South Africa, Vietnam, Indonesia and Turkey.
Source: Mena
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