"Planning" It issues a report on the developments of the European partnership to support the economy
The Ministry of Planning, Economic Development and International Cooperation issued a report on the developments of the partnership to implement the macroeconomic support mechanism and budget support, within the framework of the strategic partnership between the Arab Republic of Egypt and the European Union. March 2024, between President Abdel Fattah Al -Sisi and Ursula von der Line, President of the European Commission, where the package is 7.4 billion euros, including 5 billion euros within the mechanism of assistance to the macroeconomic and budget support is available until 2027, 1.8 billion euros investment guarantees for the private sector, and 600 million euros grants to development sectors Different.
& nbsp; The European Commission, signing the first stage agreement of the mechanism worth a billion euros, between Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation, and Valdes Dombrovscis, Executive Vice President of the European Commission.
& nbsp; Months, the Ministry of Planning, Economic Development and International Cooperation, in coordination with the relevant authorities (the central bank, the ministries of finance, social solidarity, work, investment and foreign trade, electricity and renewable energy, as well as the Competition Protection and Monopathic Protection Authority, and the Information and Decision Support Center of the Council The first, among those reforms is the account of the salary tax electronically, activating the unified public finance law to determine the annual ceiling of the public government’s debts, and enhance the sustainable transformation by expanding social protection networks. The first of the agreement is worth one billion euros, after the approval of the European Commission, the completion of all procedures, and on December 27, 2024, Egypt obtained the first segment already. And mobilized efforts to implement the national program for structural reforms, along its three axes; Enhancing the steadfastness of macroeconomic stability, improving the business environment and the investment climate, and pushing the green transformation. Foreign.
& nbsp; The structural to be implemented, within the framework of the national program for structural reforms, within the second stage of the agreement, and a number of European technical missions were received. The European Union, the ministries and the concerned authorities in Egypt, to determine the progress of procedures and reforms, and at the same time the European Union is conducting its internal procedures in order to reach the final agreement.
& nbsp; Ensure that the lowest sources are secured, as partnership with the European Union provides easy financing with very low benefits and long payment deadlines, reflected on the prolongation of the debt term, in addition to other financing sources that the state seeks to strengthen through direct foreign investments, and increase exports.
& nbsp; And international cooperation, according to a vision to achieve the maximum benefit and optimal exploitation of the available resources through public investments, as well as the soft development financing, in light of the general orientation of the state aimed at making room for the private sector, and supporting development efforts.
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