CAIRO - 25 July 2024: Egyptian Minister of Finance Ahmed Kouchouk stressed that despite the indicators that the global economy is witnessing a state of stability, there are still varying levels of recovery and that global economic challenges still represent severe pressures on emerging economies and developing countries. Minister Kojok added that the challenges are due to the high cost of financing and the decline in foreign direct investment flows directed to emerging countries. He also explained that the "protective trade policies" pursued by some advanced economies create additional obstacles to the movement of developing countries' exports. The Minister stressed the importance of directing reforms to support the competitiveness and productivity of the Egyptian economy. He also noted that the new government places at the top of its priorities enhancing the growth of the private sector by increasing the competitiveness and productivity of the Egyptian economy through providing more economic opportunities in a competitive and investment-attractive climate.

Source: Egypt Today July 26, 2024 09:59 UTC