Harnessing reforms to boost Egypt's inclusive growth is a continuous process: Minister

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Fri, 17 Jul 2020 - 09:36 GMT

Minister of International Cooperation Dr. Rania Al Mashat joins Richard Quest in CNN’s Quest Means Business.- press photi

Minister of International Cooperation Dr. Rania Al Mashat joins Richard Quest in CNN’s Quest Means Business.- press photi

 
CAIRO - 17 July 2020: In CNN’s Quest Means Business with International Anchor Richard Quest, Dr. Rania Al Mashat, Minister of International Cooperation said that the Covid-19 pandemic proved no recognition of borders, no country could stay isolated. She emphasized that one of the most important lessons learnt is that reforms are continuous, pointing out that Egypt entered the crisis with strong fiscal and foreign exchange buffers, as a result of the reform program implemented in 2016 - 2019.
 
“The silver lining in the Covid-19 cloud, is that many of the reforms have been expedited. In dealing with the immediate socio/economic challenges, Egypt has undertaken many actions to prepare for the future with all stakeholders”. said Minister Al Mashat. She pointed an example where policy makers, private sector and civil society have come together to mitigate impact on an un-organized labor force through employment protection legislation and employment benefits, which resulted in the addition of 1.5 million informal labors into the formal sector. Moreover, she added that many additional initiatives have been taken to push forward social protection, advancing financial inclusion for economic empowerment and expediting digital transformation.
 
 
Egypt has swiftly managed to enable both the education and labor sectors to remote learn / work during the pandemic, and this was a result of the reforms that have been undertaken on both the education and ICT sectors.
 
With regards to the Grand Ethiopian Renaissance Dam; Minister Al Mashat expressed her confidence in Egypt’s political leadership and negotiation efforts from the Minister of Foreign Affairs and the Minister of Water Resources and Irrigation.
 

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