The Egyptian Minister of Planning Hala El-Saeed said on Tuesday that most countries in the region are suffering from a decline in growth rates, yet, Egypt is the only one to observe sustainable growth.
According to a press release, El-Saeed noted that it is important to bear in mind that the economic reform program started less than 30 months ago and during this period, Egypt managed to achieve high growth rates.
This came during the participation of the Minister in the plenary session to discuss the draft budget 2019-20 at the Egyptian parliament.
She pointed out that there are a number of challenges facing the whole world, including Egypt, such as trade wars, and other political developments in the international arena. "Nonetheless, Egypt has managed to achieve the highest rates in all its institutions," she said.
"In light of these challenges, it was necessary to pay attention to social protection, since the reform program does not depend on short-term solutions but, rather on sustainable ones," she stressed.
El-Saeed pointed out that each reform program has a price to be paid by all segments of society. However, social protection programs have been concerned with providing more work opportunities that have been reflected in the decline of unemployment rates, that have been persified among sectors such as industry, communications and information technology.
"We are looking forward to achieving a balance between the increase in investments and that of incomes and between the control of spending and import figures, "she concluded. "They are all important balances every citizen should consider in order to accelerate development and growth."
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