Economy expert Dr. Zainab Nawar shed light on the international press conference held by Prime minister Dr. Mostafa Madbouli
Economy expert Dr. Zainab Nawar shed light on the international press conference held by Prime minister Dr. Mostafa Madbouli in order to review Cairo’s vision over the global economic crisis, highlighting the main advancements of the Egyptian economy and what had been achieved.
Over the phone to (Cairo Local Time), she said that the prime minister reviewed the current global crisis after the Covid19 impact where all the world economies were working for the recovery, how to obtain different markets and how the supply chain would start to work, then suddenly the Russian-Ukrainian war erupted. The world is undergoing a very unique hard situation, facing financial and economic challenges, she stated.
She added that the government has recently taken various measures which has led to a lot of reforms through the time of Corona and now in the Ukrainian war that helps in lessening the effect of the crisis. This happened through the work on the small and medium enterprises and encouraging the local investors. We looked at our internal resources and internal types of production, she asserted, to boost the work of the private sector and the work of small enterprises in order to guarantee a certain amount of production inside Egypt without importing more products.
Dr. Nawar stated that the premier talked about the inflation that has become an international challenge in developing and developed countries as well. High inflation rate can be dealt with through certain measures related to interest rate, through decreasing the amount of inputs, depending on local manufacturers and internal resources, and stopping importing what we don’t need, etc.
She explained what Dr.Madbouli has said about the repercussions of the Ukrainian war and the global supply chain and the disturbances in the production movement as well as the huge challenges both the world and Egypt are facing now.
(Cairo Local Time) is aired from Saturday to Thursday. This episode is presented by Amal Mokhtar
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