Politicians: The decline in the size of external debt is a new birth certificate for the Egyptian economy
The price of a number of political forces, The decline in Egypt’s external debt,For more than $15 billion by the end of the fourth quarter of the fiscal year 2023/2024.
They stressed that this decline has many messages, the most prominent of which is investor confidence in the Egyptian economy, and then the recent period witnessed a number of deals that were a strong boost to the Egyptian economy.
Captain Walid Joudeh: reflects the state’s success in dealing with this file
For his part, Captain Walid Gouda, Assistant Secretary-General in Greater Cairo of the Congress Party, confirmed that the decline in Egypt’s external debt to more than $15 billion by the end of the fourth quarter of the fiscal year 2023/2024 is a positive indicator that confirms the state’s ability to fulfill its obligations.
Gouda added that the decline in Egypt’s external debt reflects the success of the state’s policies in dealing with this important issue, by providing dollar resources from various sources to ensure that its needs and obligations from global markets are met.
The Assistant Secretary-General of the Congress Party added that the government measures that were taken during the last period contributed significantly to resolving the exchange rate crisis, and also stabilizing prices locally contributed to the growth of the Egyptian economy.
Gouda explained that attracting more foreign investments contributed to improving the cash reserve, which led to a decline in Egypt’s external debt, as well as the government’s efforts to reduce the financial deficit, by improving revenues and reducing expenses, and national and investment projects that The state is implementing it in all fields, and implementing economic reforms that have led to improving the business environment and increasing economic growth.
Amr Al-Qatami: confirms the soundness of the reform path
In the same context, Representative Amr Al-Qatami, a member of the Economic Affairs Committee in the House of Representatives, said that there are many indications regarding the decline in Egypt’s external debt to more than 15 billion dollars by the end of the fourth quarter of the fiscal year 2023/2024, most notably the path Economic reform that is progressing steadily.
A member of the Economic Affairs Committee in the House of Representatives continued: " There are also many messages related to this, the most prominent of which is investors’ confidence in the Egyptian economy, and the recent period witnessed a number of deals that were a strong boost to the Egyptian economy, in addition to the government’s ability to pay its obligations and external debts, without delay, which reflects the extent of seriousness and commitment to fulfillment. Commitments on time.
The member of the House of Representatives indicated that the decline also confirms the soundness of the reform path, and evidence of this is discipline in payment without delay, at a time when the size of external debt to the gross domestic product is within safe limits, at a time when work is being done to strengthen Economic activity, achieving financial stability, rearranging public spending priorities, expanding the tax base, and managing public debt in a more efficient manner, which is why this decline is a new birth certificate for the Egyptian economy.
Zaki Abbas: He confirms Egypt’s commitment, which proves the efficiency of the Egyptian economy
Representative Zaki Abbas, a member of the House of Representatives, appreciated the decline in Egypt’s external debt to more than $15 billion by the end of the fourth quarter of the fiscal year 2023/2024, stressing that this decline confirms Egypt’s commitment to repay all its debts and not default on any payments. A debt according to the specified date, confirming Egypt’s commitment to repay all its obligations, which proves the efficiency of the Egyptian economy in light of the current global challenges.
Abbas expressed his complete confidence in Egypt’s ability to overcome the negative repercussions of the global financial crisis in light of the positive economic indicators, most notably the presence of a decline in external debt in the results of the fourth quarter of the fiscal year 2023/2024.
The member of the House of Representatives pointed to the economic, financial and banking policies that Egypt is currently pursuing, which have made Egypt one of the most promising economic countries capable of attracting more local and foreign investments, and there will be a restoration of confidence in the Egyptian economy at a later date. All levels.
"Abbas" added, that After the government’s success in implementing President Abdel Fattah El-Sisi’s mandates to confront all types of bureaucracy that faces attracting investments, in various economic projects in general, there will be a major boom in investment and industry.< /span>
