EBRD: Egyptian Economy Proves Ability to Surmount Shocks

Heica Harmgert, Regional Director for the Eastern Mediterranean at the European Bank for Reconstruction and Development(EBRD), said that the Egyptian economy is characterized by persity and resilience, as it has already managed to withstand the shocks during the Corona pandemic.

She added that withstanding the Egyptian is linked to its foreign exchange reserves and the persity of its trading partners.

Harmgert explained that "Egypt provided a very good economic performance during the pandemic period, looking at the years 2020 and 2021, the Egyptian economy was one of the economies few globally that have achieved positive growth.

She stressed that the EBRD’s new strategy for cooperation with Egypt during the period 2022-2027 does not include specific projects, but the bank will annually discuss projects in which it can pump more investments.