In a statement on Monday, the minister cited reports issued by international economic institutions about Egypt’s economy and their optimistic and positive outlook on Egypt’s economic performance for the coming years.

He said the unprecedented economic reforms to improve the living conditions and services offered to citizens helped the economy to avoid the worst scenarios witnessed by some world economies as a result of COVID-19.

He said the International Monetary Fund issued a positive report on Egypt’s economy in 2020 expecting the economy to achieve growth estimated 5.5 percent in 2021/2022.