Egypt: Saeed - Diversifying Egyptian Economic Resources Contributed to Economy's Resilience

Minister of Planning Hala El Saeed said diversifying Egyptian economic resources has contributed to promoting the economy's resilience during the coronavirus pandemic.

In a statement on Sunday 4/10/2020, Saeed attributed the improvement of the economic performance indices before the pandemic to the influential implementation of the economic and social reform program.

Saeed said the economic growth rate reached 5.6 percent from December 2019 to July 2020, while unemployment rate dropped by 8 percent from December 2019 to October 2020.

She added that foreign direct investments rose to 19 percent in the period from December 2019 to July 2020.

She noted that unprecedented measures were adopted to confront the coronavirus, topped by allocating EGP 100 billion for funding an all-out plan for containing the crisis in addition to upping the Health Ministry's budget by 100 percent.

More From: Egypt Online

Don't Miss

AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.