Ma’it to take apart in G20 Finance Track Documents in Tokyo

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Tue, 15 Jan 2019 - 02:31 GMT

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Tue, 15 Jan 2019 - 02:31 GMT

Egypt's finance Minister, Mohamed Maait - FILe

Egypt's finance Minister, Mohamed Maait - FILe

CAIRO – 15 January 2019: Egyptian Finance Minister Mohamed Ma’it will participate in the G20 Finance Track Documents which are scheduled to be held on January 16-18 in Tokyo.

The results and outcomes of the finance ministers' Finance Track Documents are set to be a prelude to the G20 presidential summit in Osaka, Japan, in June, Ministry of Finance said in a statement.

It added that the agenda of the meetings includes important and effective discussions on the priorities of the G20 finance track in 2019, which focuses on the risks of the global economy and the challenges faced by all member countries in facing global imbalances and their impact on the financial and economic policies of each country.

The agenda of the meetings also includes a series of meetings to discuss targeting sustainable global growth rates and the importance of focusing on increasing the investments of countries in infrastructure in a manner that achieves effective and comprehensive growth.

Moreover, the agenda will discuss ways to deal with the structural changes faced by the financial and economic systems in all countries of the world as a result of innovation and globalization as well as ways to respond to these changes and deal with them.

The meetings will review ways of financing comprehensive health insurance schemes in developing countries as an important and necessary structural reform for developing nations; the meeting will also tackle what countries are doing to develop strategies to ensure that debt levels are maintained at sustainable or stable rates.

According to the statement, Egypt's participation in this forum is expected to be successful and positive. It is expected that Egypt will present its successful experience over the past two years in the implementation of a comprehensive economic and social reform program capable of helping the Egyptian economy to meet all global and local challenges and put it on the road.

The statement pointed out that these meetings come within the framework of Egypt's invitation to participate in the Group of 20 meetings during 2019 under the presidency of the State of Japan in light of Egypt's presidency of the African Union during this year.

Egypt embarked on a bold economic reform program that included the introduction of taxes, such as the value-added tax (VAT), and cutting energy subsidies, with the aim of trimming the budget deficit. It also provides facilities and legislative reforms to encourage investors to invest in Egypt.

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