Ayman Muhsab: The Egyptian economy is witnessing a remarkable improvement despite geopolitical tensions
Dr. Ayman Mohsef, a member of the House of Representatives, and the decision of the Investment Priorities Committee for the National Dialogue, stressed that the recent data indicates a noticeable improvement in the performance of the Egyptian economy, whether in terms of achieving the largest foreign exchange reserves in the country’s history exceeding 47 billion pounds, as well as the low inflation rate to the lowest level since March 2022, which was crowned with the approval of the International Monetary Fund to exchange the fourth segment of Egypt amounting to 1.2 billion dollars, This reflects the success of the Egyptian economic reform program, as it is a recognition of the ability of the Egyptian economy to persist and continue, despite the challenges of geopolitical tensions in the region, which negatively affected world trade as well. Criticism aims to reduce the deficit of the general budget, enhance Egypt’s ability to attract foreign investment, and increase local production, noting & nbsp; These reforms, despite their difficulty in some stages, are necessary to ensure a more sustainable economic future. Until Egypt has achieved great successes in several sectors thanks to the economic reform program, where the liberalization of the exchange rate contributed to reducing the gap between the official and parallel market, which led to improving the efficiency of the Egyptian economy in dealing with foreign exchange flows, and helped enhance the competitiveness of Egyptian exports in global markets, explaining that the central bank’s trend towards facing inflation by raising interest rates and controlling cash supply, an important step that contributed & nbsp; In reducing the inflationary pressures that affected the citizens. The reforms not only stopped at monetary and financial policies, but also extended to vital sectors such as investment, where Egypt was able to attract unprecedented foreign investments, most notably the Development of the Ras Al -Hikma region of 35 billion dollars, stressing that the improvement in economic indicators reflects the success of the plans that the state has established to stimulate growth, as the remittances of Egyptians abroad increased by 45.3% during 2024, which enhances cash reserves The foreigner supports the stability of the economy, in addition to increasing tourism revenues, which reached 14 billion dollars, thanks to the efforts made to develop tourism infrastructure, and the opening of the Grand Egyptian Museum partially, as well as the government’s continued continuing to implement the government proposals program to enhance the participation of the private sector. Towards achieving sustainable economic growth, noting that the expectations of the International Monetary Fund indicate a high rate of GDP growth to 3.6% during the fiscal year 2025, then to 4.1% in the following year, which reflects the effectiveness of economic reforms that are currently being implemented, stressing that the state continues its efforts to ensure economic stability and achieve sustainable development, and that the next stage will witness more improvement in the business environment, with continued implementation of reform plans Structuralism, and the development of productive sectors, which guarantees a more powerful and capable economy to face future challenges.
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