An implementation plan is required for the Cabinet document

The future of the economy in Egypt attracts the attention of all people and officials. Everyone is talking about the economic conditions, prices and the dollar, where and how and to where and what is the future of the economy in Egypt. How do we advance the Egyptian economy and how do we achieve a decent life in the midst of a devastating global economic crisis. The world has suffered from the Coronavirus crisis, the Ukraine war, then the unjust war against our people in Gaza, and the crisis of ships in the Red Sea and Bab al-Mandab, all these are successive crises that the world is experiencing and affect everyone.

Last week, the cabinet presented a document about the most prominent strategic directions for the Egyptian economy for the new presidential term (2024-2030) and the Prime Minister called for a national dialogue to discuss it.  The document ncludes a vision for developing economic growth and its role in Egypt’s renaissance, economic policied, the role of Economic sectors in leading the renaissance, achieving a competitive economy based on knowledge, a decent life that meets the aspirations of Egyptians, as Egypt has a pioneering role in the global economy, in addition to paying attention to youth and women and strong activation of the participation of Egyptians abroad.

The document revolves around several basic axes: achieving strong, comprehensive, sustainable and balanced economic growth, raising the pace of growth from 6% to 8%, strengthening the status of the Egyptian economy globally so that it is classified as the fastest growing economy in the world and among the twenty largest economies in the world during the year 2030, focusing on the quality of economic growth by raisinh the percentage of investment and exports’ contribution to about 50%, establishing the foundations of growth based on balanced spatial development and the economic empowerment of Egyptian women, focusing on an employment-friendly growth pace to provide between 7 to 8 million job opportunities, further empowering the private sector within the framework of the commitment to implement the policy of state ownership of assets, focusing on structural reforms that support economic growth and move towards greater price and financial stability, focusing on more fiscal discipline efforts and moving toward more sustainable public debt paths, enhancing foreign exchange resources.

This is great, but what is required is that these economic directions are transformed into executive decisions that turn what we want into a tangible reality. They are important goals, but we need an executive plan and work schedules with specific timings known to all concerned parties. I hope that the national dialogue takes place everywhere and all eceonomic experts participate in it and listen to all ideas and directions in order to achieve economic renaissance and a strong economy that can overcome successive crises and successive blows from the effects of wars and global crises.