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Egypt needs EGP 20trn investment annually: Al-Sisi - Daily News Egypt

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Egypt needs EGP 20trn investment annually: Al-Sisi

President directs government to launch board of trustees to follow up recommendations of economic conference

President of Abdel-Fattah Al-Sisi said during his speech at the end of the Egyptian Economic Conference, that Egypt needs EGP 20trn worth of investment annually, especially with the continuous increase in the population, which represents a major challenge to development efforts.

The president added that the conference achieved its goals, which are summarized in how to face global conditions and local challenges, stressing that the political environment is linked to the economic situation, and that immediate action will be taken to implement the conference’s recommendations.

The recommendations of the conference are the immediate start of developing the policies and legislation necessary to implement the recommendations of the economic conference and the advice of economic experts to be a road map for the Egyptian economy in the coming years, with directing the government to periodically conduct a comprehensive evaluation of the measures taken to ensure their effectiveness.

And work to increase the contribution to social protection programs to raise the repercussions of the global crisis on citizens, and direct the government to work to prevent the citizen from bearing additional burdens during the coming period, as well as providing new job opportunities for young people to attract limited layers of the Egyptian people.

The president stressed that the country chose to implement major national projects to provide job opportunities for youth instead of providing cash support.

He directed the ministers to launch a board of trustees among themselves to follow up on the government’s performance, discuss and create solutions for the state’s economic issues, as well as implement the recommendations of the economic conference.

He recommended that the economic conference be a stable economic platform that will be held every year, adding: “We say an account statement, and I, as a government and leadership, I will follow up on the reports every 3 months with the achievement that we are doing.”

Topics: Egypt

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