Today, Friday, November 19, President Abdel Fattah El Sisi celebrates his birthday with continuing to work on building the Egyptian state, facing challenges, storming problems, achieving development and stability, and building a future, as well as preserving Egypt's national security and water rights.
The celebration of the presidents of Egypt on their birthdays differ from one president to another, each in his own way, according to his origin and country of origin.
Since assuming power, Sisi has stabilized the pillars of the state, rebuilding its national institutions, and bringing about a major development renaissance.
The Egyptian economy managed to achieve positive indicators during the peak of the coronavirus crisis and was highly lauded by international economic institutions because the economic reforms the government adopted before the crisis earned the national economy a great deal of flexibility to address both internal and external shocks.
There is a presidential mandate to provide the necessary funding to sustainably improve people's lives in the "New Republic", reduce burdens on their shoulders, enhance aspects of spending on health and education, meet the development needs of citizens, improve services provided to them, and facilitate decent livelihoods.
The world sees Egypt embarking on the right path, in all fields, as President Sisi is leading a comprehensive path of construction and development to change the face of life on the land of Egypt.
Thanks to Sisi's administration, Egypt has been hailed in various international forums.
We have noticed an increasing interest from foreign investors to study promising investment opportunities in Egypt in light of a stimulating environment for business, and a strong political will to increase the private sector’s contributions to economic activity during the next 3 years from 30% to 50% to provide one million needed jobs annually.
Positive reactions were also recorded following cancelling the state of emergency, which is reflected in stimulating local and foreign investments.
The economic reforms adopted by Sisi and supported by the people have made the Egyptian economy more capable of absorbing shocks and flexibly dealing with them, such as the emerging market crisis, the coronavirus pandemic, the crisis of global supply chain disruption and high shipping costs.
The Egyptian economy is still coherent and able to achieve the desired goals in the budget of the current fiscal year despite all challenges, by recording a growth rate of 5.6% and a primary surplus of 1.5% and reducing the budget deficit to 6.7% of the GDP, which we expect to reach 7.1 trillion pounds.
The persity of the structure of the Egyptian economy contributes to recording real and sustainable growth that is more comprehensive and has an impact on people's lives.
Egypt was one of the best countries in reducing the debt-to-GDP ratio by 20% during the three years before the pandemic. The debt rate declined from 108% in 2016/2017 to 87.5% by the end of the fiscal year 2019/2020.
The state is moving strongly towards the mechanization of the Egyptian economy, ensuring the integration of the informal economy, raising the volume of the gross domestic product, and then improving the indicators of financial and economic performance, and enhancing aspects of spending on raising the standard of living of citizens.
The government, despite the pandemic and the repercussions it imposes on the performance of the state’s general budget, was able for the first time in a year and a half to disburse LE 30 billion to exporters from the arrears due to the Export Development Fund.
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