Egypt’s Economic Conference to kick off Sunday to discuss future of economy amid global crises



Sat, 22 Oct 2022 - 12:25 GMT


Sat, 22 Oct 2022 - 12:25 GMT

CAIRO – 22 October 2022: The Egyptian Economic Conference 2022 will kick off on Sunday at Al-Massa Hotel in the New Administrative Capital to discuss the situation and future of Egypt’s economy amid consecutive economic crises across the world.

The Economic Conference, which runs from 23 to 25 October, is organized by the government with the directives of President Abdel Fattah El-Sisi and the participation of a large number of economic experts and intellectuals, said the Cabinet in a statement on Saturday.

Setting economic policies

The first day of the three-day conference will discuss multiple issues related to economic policies and will seek to discuss visions and ideas of experts on the economic policies required given the current national priorities under Egypt Vision 2030.

The first day of the conference will discuss a number of axes represented in the consecutive economic crises facing global economy and their local and international impact, said the statement.

The first day will also be concerned with discussing changes in the economic structure and economic growth over the past three decades given the need to achieve an economic structure that achieves sustainable development.

Enhancing role of private sector

The sessions will also discuss the requirement of providing appropriate job opportunities for youth and developing the contribution of the private sector in economy, said the statement.

The sessions should result in formulating policies and visions that contribute to achieving comprehensive and sustainable economic growth rates amid the current challenges imposed by the ongoing global and regional circumstances.

The sessions also seek to spot policies and mechanism that should be activated to enhance the role of the private sector, which is an effective partner in the sustainable development efforts, in achieving growth and operation targets.

Advancing public investments

During the sessions, the government will be briefed of the visions of participants and experts on the importance of advancing public investments directed to develop infrastructure, which is supportive of the business environment and the citizens’ quality of lives.

The sessions also seek to discuss visions and proposals regarding priorities of public spending, the statement added.

Participants on the first day will address monetary policies in light of global developments, as well as features and dimensions of the current global inflation problem, and the repercussions of the Russia-Ukraine crisis on the exacerbation of inflation worldwide.

Moreover, participants will discuss policies and measures taken by monetary policy makers around the world to curb inflation.

The sessions will see discussions on the impact of raising interest rates in developed markets on the situation in emerging markets. Participants will also tackle efforts and measures taken by the Egyptian state to limit the effects and repercussions of hike in prices.

Economic Conference participation

Earlier this month, the government launched a website and a mobile application for the Economic Conference within the framework of its keenness to ensure the participation of various stakeholders.

The government also launched a number of social media pages for the conference to provide all information related to the conference moment by moment.

Earlier this month, Prime Minister Mostafa Madbouli said the economic conference seeks to reach a roadmap for the country's economy during the coming period.

In a press conference, Madbouli 400 to 500 people belonging to local and international bodies are estimated to participate in the conference.

The conference aims to develop clear policies and measures to increase the competitiveness and flexibility of the Egyptian economy, the Cabinet’s spokesman said.

The conference's agenda includes various sessions divided into three political approaches, i.e. macroeconomic policies, empowerment of the private sector and creation of a business environment, and formulation of a future road map for the priority sectors in the government’s program, the spokesman added.

The economic conference will also coordinate with the economic axis of Egypt’s National Dialogue, which seeks to reach common grounds between political and partisan forces on national priorities.



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