Fahmy lauds economic development track in Egypt

Economic expert Dr. Passant Fahmy shed light on the expectations of the African Development Bank regarding the Egyptian and African economy.

Economic expert Dr. Passant Fahmy shed light on the expectations of the African Development Bank regarding the Egyptian and African economy, saying that they reflect the strong performance of the Egyptian economy during the Covid-19 pandemic.

Over the phone to (Breakfast Show), she explained that we are very lucky as we had previously set a plan for 2030 and we continued executing it during the virus. Our plan was to redevelop all projects all over Egypt. We even set a plan to develop Egypt’s relationship with its neighbors which could be adapted even in the coronavirus time as it started with the infrastructure, which is implemented in the open air in our moderate climate. Thus the base was the infrastructure, then developing the green economy and the blue economy, developing new cities, developing Sinai, developing our villages, etc. All were executed in a professional manner.

She added that in parallel to all that, we have been working on addressing our monetary and fiscal policy, and our investment laws. We cooperated with the African continent and dealt with them for the benefit of all countries, she highlighted. Illustrating that it is a win-win situation, she reassured that we followed the way of economic diplomacy in dealing with Africa by telling them how much they will gain from this relationship first. We also transferred our experience to them in infrastructure, she said, and improving their lives.

According to her, she mentioned that Egypt developed the concept of counter trade i.e. we can work with projects together until they develop monetary wealth, then pay us by different methods.

Dr. Fahmy insisted on giving the utmost help to the Small and Medium Projects (SMES) by marketing to them the strategy of 2030 and showing them the success we realize so that they can be convinced. We can also show them our successful story to have faith in us.

She pinpointed how the international economic organizations regard the Egyptian economy; economy is not judged by words but by results, figures, ratios, indices and all these are checked by international institutions and highly evaluate our achievements. We succeeded on the grounds that our economy is very diversified and our weather is suitable for working over the year, she finally added.

(Breakfast Show) is aired daily. This episode is presented by Nermeen Abdel Rahman.