Maait explained that the world is now looking positively at the Egyptian state after the improvement of all economic indicators, in addition to the state of stability and growth occurring within the country, which is moving in the right direction. “Had it not been for the Corona crisis, it would have reduced it to 25% in three years, which is the largest debt reduction achieved by any country in the world during that time period,” he pointed. He explained that the debt has a service cost and the cost of the debt has been reduced from the budget, indicating that funds are being provided to provide and pump investments in the Egyptian state to implement projects in all health and educational fields, road networks and village development. Maait stated that the Egyptian state worked to solve the electricity problem that we were suffering from, pointing out that the investor is investing in the case of providing electricity, infrastructure and a road network. He added that the stability in the Egyptian state contributed to growth and the existence of fiscal and monetary policies, which helped preserve the currency and foreign reserves in the country, operate factories, pump resources to the state, and bring about a good economic growth rate and heading in the right direction.

Source: Egypt Today May 25, 2021 14:48 UTC