Dr. Majed Abdel Azim, a prominent economics professor, shed light on Egypt's economic trajectory in a detailed phone interview with presenter Azza Mostafa on Sada Elbalad TV's program "Salat Al-Tahrir."
He articulated how international donors and funding agencies meticulously evaluate and track a country's economic progress, and Egypt is currently witnessing the fruition phase of its significant developmental projects. Abdel Azim underscored Egypt's punctuality in repaying loans, reinforcing the confidence of international donors to continue their financial support.
The professor highlighted Egypt's advantageous position in terms of security and economic stability compared to neighboring countries. This stability is pivotal for attracting foreign investments and enhancing national exports. In the context of the current dollar crisis, the Prime Minister's assurance of a nearing resolution was discussed. Abdel Azim interpreted this as based on informed insights, possibly linked to an upswing in Egypt's exports across various sectors.
Concluding his insights, Dr. Abdel Azim pointed out the criticality of ensuring adequate foreign currency reserves to mitigate the prevalence of black markets and exchange rate disparities. He accentuated the recent uptick in foreign investments in Egypt, contributing to a rise in agricultural and industrial exports, a key factor in stabilizing the economy and addressing the dollar scarcity effectively.