Current period is opportunity to promote national industries: Egyptian Min.

CAIRO - 13 April 2020: Minister of Planning and Economic development Hala el Saeed has said the current period is an opportunity to promote national industries and depend on them rather than importing them.

The minister reiterated on Monday that some sectors, including pharmaceutical and foodstuff industries, currently have competitiveness given the State's support amid the outbreak of the novel coronavirus.

El Saeed explained that the procedures of economic reform adopted by Egypt since 2016 have contributed to increasing rates of sustainable development and job opportunities, reducing unemployment rates and helping counter the COVID-19 crisis so far.

The minister expected that the growth rate can reach 2 percent in the fourth quarter in case the situation improved, while the annual growth rate may be more than 4 percent; the world's highest rate amid the outbreak of the coronavirus.