20 July 2019 04:09 PM

Sisi: Egypt, Africa need to accelerate growth rate

Sunday، 09 December 2018 - 03:48 PM

President Abdel Fattah El Sisi asserted on Sunday 9/12/2018 that Egypt and Africa need to overcome the challenge of racing against time to accelerate economic growth rates.

Addressing a workshop on African investments themed "strong leadership and collective commitment at the Economic Africa 2018 Forum, the president appreciated efforts exerted during today's session, pointing out that Egypt and Africa have to face such challenges to achieve good growth rates.

The President wondered if Egypt and Africa were able to achieve at a fast pace good growth rates and exceed other world countries in the light of the adopted economic and financial policies.

But he ruled out applying the policies of accelerating the growth rate in Africa because the banks that give Africa funds set conditions to protect their money.

President Sisi expressed keenness on fulfilling development projects on time, stressing the importance of focusing on the time element to accelerate growth rates.

He also spoke about the importance of speeding up the pace of work at many vital projects such as those connected with energy which is essential for realizing industrial development.

He pointed out that the gap between African countries and advanced countries is wide, so, joint cooperation from all sides is needed to narrow it and achieve rapid growth rates in all African States.

President Sisi said security and stability as well as the protection of the state are only achieved through hope and job opportunities at different projects including infrastructure and other development projects.

He stressed the importance of technical and scientific support and expertise transfer for carrying out such projects.

President Sisi also shed light on the importance of navigation lines among African countries to render the development projects a success.

The President wondered if the African Union is able to study a project worth 150 billion dollars for carrying out infrastructure projects in the African continent and achieving integration.

He said that Egypt managed during the past years to solve energy problems and is now able to export energy to friendly countries.

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