29 February 2024 11:01 AM

Sisi orders continuing studies on effect of global economic conditions

Monday، 28 November 2022 - 10:02 PM

President Abdel Fattah El Sisi has issued directives for continuing and expanding specialized studies related to global economic conditions as well as their repercussions on the Egyptian economy and the development process, especially as regards the rising global inflation rates and the increase in food and energy prices due to the worldwide supply shortages and the global financial market turmoil.


Sisi’s directives came during his meeting on Monday with Prime Minister Mostafa Madbouli and Minister of Planning and Economic Development Hala el Saeed.


The meeting touched on the country's economic indicators in light of the continued repercussions of current crises and uncertainties in the world and the bleak outlook for the global economy, Presidential Spokesman Bassam Rady said.

The planning minister reviewed economic indicators across the world amid the repercussions of the Russia-Ukraine crisis and the slowing global growth, in addition to their effect on the national economic activity.


The Egyptian economy is expected to achieve an overall growth of about 5% by the end of the current fiscal year, exceeding prior expectations by various international institutions, Saeed added.


The minister also pointed out to the declaration announced during the latest UN Climate Change Conference, COP27, on Cairo’s hosting of the headquarters of the UN regional center for localizing sustainable development goals (SDGs).


Saeed reviewed her ministry's initiatives that were launched during the global climate summit.


President Sisi was also briefed on the latest developments of Egypt’s support for African states to address climate change impacts with a view to improving the quality of life in the continent's poorest villages in accordance with sustainable development standards.


In this regard, the minister highlighted the "Decent Life for a Climate Resilient Africa" Initiative that was launched on the sidelines of COP27 under the sponsorship of President Sisi.


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