Egypt Looks to Benefit from Morgan Stanley Capabilities to Hedge against Price Fluctuations, Financing

Mohamed Maait, Minister of Finance held a bilateral meeting with Claire Woodman, CEO of Morgan Stanley’s operations in the Europe, Middle East and Africa region, on the sidelines of their participation in the World Economic Forum held in Riyadh, Kingdom of Saudi Arabia.

The minister said: “We look forward to benefiting from the capabilities and capabilities of Morgan Stanley and enhancing cooperation in hedging arrangements against the rise in the most popular commodities and in non-traditional financing as well.”

Maait confirmed that structural reforms pave the way for stability and economic growth in Egypt, explaining that Egypt bears severe financial, economic and political burdens. As a result of the unstable geopolitical situation in the region, especially the war on Gaza and the situation in the Red Sea.

The minister added that the Ras Al-Hekma city development project confirms the ability of the Egyptian economy to attract more investment flows, taking into account the huge investments in developing infrastructure and preparing it to accommodate more productive activities in various components of the national economy, especially agriculture and industry, along with what it is making. 

The state has made efforts to empower the private sector and make more room in the priority and competitive sectors, regionally and internationally, in order to stimulate export rates.

He pointed out that Egypt, with its distinguished geographical location, is an attractive investment destination, and has begun to regain its global position in this regard with the various opportunities provided by the Egyptian economy, with the capabilities and capabilities that stimulate development investments.

The minister said that the economic and financial performance is improving and we expect better indicators than the target by the end of next June, taking into account the collection of about $12 billion, representing 50% of the revenues of the Ras El Hekma city development project, for the benefit of the state’s general treasury.

He explained that it is expected to achieve a first surplus of about 5.75% of the GDP, reduce the total deficit to about 3.95% of the GDP, work to sustain the debt rate of the budget agencies, which is expected at 89% of the GDP, and increase tax revenues by more than 23%. %, which reflects the success of the Ministry of Finance’s efforts in implementing the tax policy reform program and maximizing state revenues through expansion in the areas of mechanization, control and inventory of the tax community, and developing the performance of the tax and customs departments.

The Minister indicated that we are looking forward to benefiting from the capabilities and capabilities of Morgan Stanley and enhancing cooperation in hedging arrangements against the rise in the most popular commodities and in non-traditional financing as well.