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8 Information about the Egyptian economic structural reforms program ... Get to know it

Dr. Mostafa Madbouly, Prime Minister, met with Dr. Hala Al-Saeed, Minister of Planning and Economic Development, and Dr. Nada Masoud, Assistant Minister of Planning, to review the final picture of the priority structural reforms program for the Egyptian economy, which the government is preparing to launch. Learn about the details of the program.

1- The Structural Reform Program for the Egyptian Economy is an economic program announced by the government in 2016, which includes addressing macroeconomic weaknesses, encouraging inclusive growth and creating new job opportunities.

2- The structural reforms program is also one of the main pillars to confront the radical transformations that have occurred recently in the global and Egyptian economies as a result of the Corona pandemic.

3- Structural reforms that contribute to increasing the flexibility of the Egyptian economy, raising the economy’s ability to absorb external and internal shocks, as well as transforming the economy’s path into a productive economy with competitive advantages, thus supporting its ability to achieve balanced and sustainable growth.

4- The Ministry of Planning seeks to involve all those involved in structural reforms, including experts and specialists in the private sector and the business community, as well as all ministries, agencies and bodies concerned, in order to ensure the inclusiveness and inclusiveness of the program.

5- Twenty meetings were held with the ministries and bodies concerned with the structural reforms program, in addition to proposals from the Federation of Industries, the Federation of Chambers of Commerce, and various business councils.

6 - Six axes of structural reforms and their objectives have been identified, of which two are basic, namely: developing the business environment and the role of the private sector, and restructuring the Egyptian economy with a focus on the real economy sectors, in addition to 4 complementary axes, namely: labor market flexibility, raising the efficiency of vocational training, and developing Human capital, achieving financial inclusion and making financing available, as well as raising the efficiency of public institutions and achieving governance.

7 - The program represents the second phase of the national program for economic and social reform that the state launched in November 2016, and is consistent with Egypt's Vision 2030, and aims to implement fundamental and targeted structural reforms.

8- It will include focusing on green economy and environmental protection, addressing the issue of population increase, seeking to control population growth rates, dealing with the issue of water scarcity and its economic and social impacts, and the need to direct investments and projects to overcome water scarcity and create alternative sources.