FM meets with members of Japan-Egypt Business Council

CAIRO - 5 October 2018: Foreign Minister Sameh Shoukry met on Friday with the chairman and members of the Japan-Egypt Business Council at a business lunch held during Shoukry’s current visit to Tokyo.

The foreign minister reviewed the latest developments of Egypt’s economic reform program and the government’s efforts to achieve comprehensive development, increase growth rates and lure more direct foreign investments, Foreign Ministry Spokesman Ahmed Hafez said in a statement.

Shoukry also pointed out to several positive economic indicators, such as the expected rise in economic growth rate this year, the decline in total budget deficit in addition to the slump witnessed in unemployment rates.

In the same regard, the foreign minister noted that foreign investments in Egypt surged to $10 billion in fiscal year 2017/2018.

He added that foreign reserves increased to $44.1 billion during the current fiscal year, compared to some $18 billion in 2014.