[News] Information Centre of Cabinet proposes strategic directions for Egyptian economy for 2024-2030

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The Information and Decision Support Centre at the Cabinet has prepared a comprehensive research project titled “Document Highlighting the Strategic Directions for the Egyptian Economy for the New Presidential Term (2024-2030).” This document identifies and ranks policy actions for the Egyptian economy until 2030, covering both general economic trends and specific strategies for economic and social sectors that support the development of the Egyptian state. Mostafa Madbouly, the Prime Minister, said: “In the current period of conflicts and wars worldwide, especially in the Middle East, and the previous challenges of the pandemic that posed significant challenges to countries globally, causing major political, social, and economic impacts on different continents, we have prepared a comprehensive research project for a set of economic directions for the upcoming period. This takes into account the changes in global conditions and sustainable development trends, and the government emphasizes the vital importance of involving experts and specialists in shaping public policies to make the most of the available national minds and experiences across all sectors and specialties.” Osama El-Gohary, Assistant to the Prime Minister and Head of the Information and Decision Support Centre, said: “The document includes policies that aim to establish the foundations of an economic renaissance based on enhancing local production capacities and increasing the resilience of the Egyptian economy in facing crises. It also includes policies that prioritize the continuation of efforts to improve the lives of millions of Egyptians, with key objectives such as achieving strong, inclusive, sustainable, and balanced economic growth of 6% to 8%, focusing on the quality of economic growth by enhancing the contribution of exports and investments in generating output and targeting a supportive economic growth rate to provide 7 to 8 million job opportunities during that period.” The document adopts predictable and supportive economic policies for overall economic stability, targeting price stability, fiscal discipline, putting public debt on sustainable paths, and implementing a program to boost foreign exchange reserves with a targeted yield of $300bn by the end of 2030, representing three times the current levels. The document also implements strategies, plans, and programs that support the performance of leading economic sectors for the development of the Egyptian state. The document strengthens the foundations of a sustainable and competitive knowledge-based economy by supporting the role of research and development in building the Egyptian state’s renaissance, accelerating the transition to industrial revolution technologies, and moving sustainably towards a green economy. It lists all achievements in social sectors, with a focus on education and health, and improving the living standards of citizens to ensure a life that meets the aspirations of Egyptians. The document enhances Egypt’s leading role in the global economy by activating and maximizing the economic role of the Suez Canal, enhancing Egypt’s role in transit trade, and continuing to forge effective international strategic partnerships while promoting the involvement of youth as a fundamental pillar of progress on multiple fronts.

https://www.dailynewsegypt.com/2024/01/07/information-centre-of-cabinet-proposes-strategic-directions-for-egyptian-economy-for-2024-2030/