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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Abou El-Enein Applauds Government's Innovative Budget Proposal


Mon 03 Jun 2024 | 03:03 PM
H-Tayea

Egyptian Parliament Deputy Speaker Mohamed Abou El-Enein praised the government's innovative budget proposal presented to parliament. Reflecting on the government's 2017 vision for Egypt, the renowned businessman highlighted its ambitious goals to rank among the world's top 30 economies, with substantial improvements in competitiveness, human development, and growth rates.

During a parliamentary session, Abou El-Enein stressed the importance of reassessing Egypt's resources to maximize their added value. He pointed out that the targeted growth rate of 4.2% in the upcoming plan is insufficient, calling for a doubling of economic growth rates and foreign investments to bridge gaps in investment, exports, and revenues.

He also noted that while current large-scale plans ensure sustainability, realizing Egypt’s future competitive vision requires fresh ideas. The Parliament Deputy advocated for showcasing Egypt’s modern advancements globally, attracting major industries, and focusing on high-value heavy industries. He also emphasized addressing production challenges, improving infrastructure, and boosting competitiveness across Egypt’s governorates.

He concluded by stating that current figures do not align with the future vision, urging the implementation of modern regulations, innovative marketing strategies, and efforts to attract investments from Europe and Africa.