The National Press Authority, headed by Engineer Abdel Sadiq Al-Shorbaji, held an extensive meeting with Dr. Rania Al-Mashat to talk about the efforts of one of the most important and prominent ministries in Egypt, which is responsible for coordinating the production and service plans of the ministries at the national and regional levels and formulating public policies, plans and programs to activate and develop the performance of… Government services, and developing an integrated framework for field and continuous follow-up of projects.
Engineer Abdul Sadiq Al-Shorbaji presented, The National Press Authority’s shield was given to Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, in appreciation of her efforts.
The Chairman of the National Press Authority praised the appreciated and tangible efforts of the Ministry during the current time, with regard to the national program for economic and structural reform and enhancing competitiveness. economy, improving the business climate, supporting the private sector and entrepreneurship, and shifting towards a green economy and digital transformation.
He also praised the fruitful efforts in Formulating development policies, providing local and international funding to support priority sectors and projects, as well as technical support, whether for government or private sectors, in many fields.
He added that the role of the Ministry is growing and becoming more important within the framework of achieving sustainable development through effective planning, monitoring and evaluation of government performance and distinguished management of the state’s public investments within the framework of a competitive economy. Maximizing participation with the private sector, and implementing “Egypt Vision 2030” In coordination with ministries, relevant authorities and development partners, with the aim of building a flexible economy capable of withstanding shocks.
Al-Shorbagy continued: « We know very well the magnitude of the great challenges our country faces externally and internally amid successive global and regional events and global crises that have affected all countries of the world.
He directed his speech to the Minister, saying: “ We at the National Press Authority, and with us the National Press of Egypt, affirm that we are with you and by your side, and we will always be at the forefront of defending the nation, its priorities, plans and achievements, and we are always ready to support and strengthen the bonds of cooperation in various fields.
Most prominent files
During the meeting, the Minister indicated that the Ministry had launched the Sustainability and Financing for Economic Development Framework, which aims to achieve economic development primarily by strengthening the process of formulating development policies based on Evidence and optimal exploitation of resources to fill sectoral development gaps and achieve qualitative and sustainable growth. She pointed out that the Ministry is working in partnership with the World Bank and the relevant ministries to complete the foreign direct investment and industrial development strategies within The first quarter of the current year.Domestic Product
Al-Mashat spoke On the developments in GDP growth in the first quarter of the current fiscal year, which witnessed a recovery as a result of the economic and structural reforms that the government began implementing since last March, reaching 3.5%.
She added that growth in that period achieved A positive development not only in terms of the growth rate, but also in its quality, as the non-petroleum manufacturing sector achieved a growth of 7.1% in the first quarter, which is the highest rate since the third quarter of the fiscal year. 2021/2022.
It also indicated an increase in exports during that period in light of the measures taken by the state to release customs on production requirements and increase manufacturing rates in multiple sectors, whether of finished or semi-manufactured goods.
Tourism SectorShe also indicated the high growth of the tourism sector, which is of great importance to the Egyptian economy, growing by 8.2% in the first quarter of the fiscal year. Ongoing.
She explained that the state’s efforts in this field, and the opening of the Grand Egyptian Museum, will bear fruit and increase the number of tourists arriving to Egypt.
The economy witnessed a growth of approximately 30.1%, reaching 133 billion pounds, accounting for 63.5% of the total investments.
She stressed that these indicators are vital for the Egyptian economy and reflect The government’s determination to continue to govern investment spending and create an investment environment conducive to the expansion of the private sector.
On the other hand, public investments declined significantly in the same period, shrinking by about 60.5%, reaching 99.7 billion pounds, compared to about 180.4%. One billion pounds in the corresponding period.
The Ministry is also working to begin negotiations with the European Union to discuss the second phase of the macroeconomic support mechanism and support the budget deficit with a value of 4 billion. Euros, and investment guarantees worth 1.8 billion euros.
It stated that total investments in the fiscal year 2023/2024 amounted to about 1.62 trillion pounds, with an implementation rate of 98.5%, and a growth rate of 5.8%.
While private investments increased by 5.3% to reach 700.4 billion pounds, with an implementation rate of 116%, public investments recorded 925.9 billion pounds. EGP with an implementation rate of 88%.
She added that it is targeted for the percentage of private sector investments to rise from the total investments to reach 50% by the end of the current fiscal year as well.
