International experts: Egyptian economy is preparing for a new start

International and local experts revealed golden opportunities awaiting the Egyptian economy and preparing it to take off during the coming period by attracting large foreign investments capable of achieving an increase in exports and also foreign exchange returns.

This came during the annual meeting organized by the American Chamber of Commerce in Egypt, during which a symposium was held on the sidelines of the meeting, headed by Engineer Tarek Tawfiq, President of the Chamber, on “The Egyptian Economy and Future Developments.”

These experts stressed that this qualitative shift is driven by the reforms implemented by Egypt, which addressed market and exchange rate imbalances and achieved stability in macroeconomic indicators, as well as implementing the government proposal program, increasing the participation and contribution of the private sector in economic activity, and opening the door to innovation and fair competition.

Alex Segar, resident representative of the International Monetary Fund in Egypt, said that the flows that came from “Ras al-Hikma” deal, coinciding with the Fund’s loan and European Union and World Bank financing, led to a change in the prevailing atmosphere and the return of the exchange market to normal, which enhances the sustainability of growth, and also enhances the continuation and sustainability of plans, reform, controlling the performance of the state’s general budget, and spreading transparency, with continuous follow-up of the results of the reform plans to correct them.