Rédaction Africa Links 24 with MENA
Published on 2024-04-18 10:24:15
Finance Minister Mohamed Maait has announced that the government is taking strong measures to bolster the private sector and lead the Egyptian economy. In a discussion with the board of governors of the Middle East and Central Asia Department of the International Monetary Fund (IMF), Maait outlined a plan for the private sector to account for more than 70% of the economy.
One of the key focuses of these efforts is to increase the rates of local production and exports, aiming to boost economic growth and create more jobs. To facilitate this growth, the government has earmarked a maximum of one trillion pounds for public investments in the upcoming fiscal year. This allocation is intended to provide the private sector with more opportunities to expand, contribute to the development process, and generate approximately a million jobs annually.
Maait emphasized the importance of creating an environment that is conducive to private sector growth, highlighting the government’s commitment to supporting businesses and fostering economic progress. By empowering the private sector, the government aims to not only drive economic growth but also create sustainable and inclusive development that benefits all sectors of society.
The Finance Minister’s remarks underscore the government’s recognition of the vital role the private sector plays in driving economic growth and fostering innovation. By prioritizing the needs of businesses and working to create a favorable business environment, the government is signaling its commitment to economic reform and sustainable development.
Overall, Maait’s statements reflect a proactive approach to economic policy, demonstrating a clear commitment to supporting the private sector and fostering an environment that encourages investment and growth. By working in collaboration with international organizations like the IMF, the government is signaling its willingness to engage with global partners and leverage external expertise to drive economic progress and sustainable development in Egypt.
Read Original article on Egypt Independent
