Businessman Ayman Gemayel said that the indicators of macroeconomic and market performance financially and at the level of productive capacities, supply and supply chains, surpluses and the accumulation of value are direct evidence of the effectiveness of the measures and measures adopted by the state from the first moment of the outbreak of the Corona crisis, and the success of the previous plans and reform programs to overcome the gaps. Structural imbalances, activating market capabilities and growth components, and pushing for the establishment of stable pillars for the work environment, allowing for sustainability of efficiency, doubling of feasibility, and raising rates of attraction and competitiveness, all of which have strengthened the market's ability to generate and exploit opportunities more effectively, in the direction of more dynamism and sustainable growth.
The prominent businessman added that the outbreak of a severe crisis such as the Corona epidemic, and its sudden and harsh pressures on markets and global supply chains, caused confusion in most economic centers, so that growth in Egypt decreased to 3.6% instead of 5.6 in the previous year, but the market strength is clear in flexibility. Shock absorption and override quickly. He continued: "In the current year, we achieved a growth rate of 2.8% in a contractionary climate that dominates most countries of the world, with expectations of achieving 5.4% next year, and inflation decreased to 5.6%, unemployment to 7.3% and poverty to 28.5%, and it decreased by 1.5% annually, in addition to this." To an increase in non-oil commodity exports by 10%, to nearly 20 billion dollars, 7% of Egyptian remittances to record 30 billion dollars, and 6 billion dollars from tourism, with foreign investment growing to about 7.4 billion dollars.
Al-Jamil emphasized that these digital indicators, which are currently being achieved and expected in the short and medium terms, confirm the market dynamics and the flexibility and ability to maneuver and respond to emergency developments in a timely manner, with the greatest efficiency and the lowest level of damage, as well as confirming the effectiveness of the reform measures taken during In recent years, specifically since the launch of the economic reform program in the fall of 2016, and the positive effects it has achieved, starting with the restructuring of public finances, filling gaps, reforming the support system and improving resource management, to the booms and growth rates in the sectors of infrastructure, energy, construction, production, agro-industrialization and other components of growth. To reform the inherited imbalances and improve the legislative and regulatory work environment, with the launch of thousands of national projects and stimulate investment, especially in the sectors of industry, tourism, agriculture, construction, and labor-intensive fields, to gradually increase the state's ability to manage the growth plan, control unemployment and inflation rates, and improve digital indicators of the economy.
Businessman Ayman El-Gamil stressed that the strength of the Egyptian market now is represented in a package of integrated elements, starting with the many opportunities available in all fields, a stable work environment, an encouraging legislative and executive environment, incentives and benefits granted to investors, the integration of growth components between all sectors, and the availability of financial surpluses. And credit capabilities with banks, possession of a huge market and growing demand rates, availability of easy and rewarding opportunities for export and access to dozens of regional and global markets with little burden, and with all these elements the market has great developmental payment capabilities, which result in generating opportunities, jobs, production volumes and commercial transactions, in order to reduce unemployment Inflation and poverty rates, and with their shrinking, rising levels of spending, consumption and demand for goods and services, to increase the attractiveness of the market and rates of investment, in an integrated and dynamic cycle of work and growth with a stable and sustainable mechanism that confirms the effectiveness of economic measures that enabled the market to have self-development capabilities that allow it to recover from the vibrations. Foreign affairs, and enabling it to increase its flexibility and permanent readiness to absorb any pressures or repercussions that may be witnessed in global markets and Surrounding countries.
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