17 July 2018 12:26 AM

Mashaat: Upping economic growth rate is major challenge

Monday، 09 July 2018 - 04:22 PM

Tourism Minister Rania Mashaat said the major challenge facing governments is realizing good economic growth rates in the long run, while promoting development and reform efforts.

Addressing the 24th Economic Research Forum’s (ERF) Annual Conference, Mashaat said the instability in the Middle East has a great impact on economic growth rates and widens the gap with advanced economies in Europe, Asia and North America.

Controlling inflation rates is also one of major challenges which exhausts world economies and burdens central banks, she said.

She said financial stability should be the main goal of governments, especially in developing countries.

She added that the central banks' policies should enhance economic credibility, up gross domestic product and make up for economic deficiencies.

Mashaat referred to the outstanding Indian experience in ratcheting up growth rates, noting that economic reform programs should top countries' agendas, while working on boosting exports.

The Economic Research Forum’s (ERF) Annual Conference has become the premiere regional event for economists of the Middle East, where new ideas are born, nourished and promoted; where the community of researchers meet and where excellence is celebrated. This year’s conference is held in Cairo from July 8 to 10 July.

The main theme of the plenary sessions is “The New Normal in the Global Economy: Challenges and Prospects for MENA”.

MENA

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