In front of President Abdel Fattah El-Sisi, leading economists, experts, and specialists, Prime Minister Dr. Mustafa Madbouly stated that during the time from February 2011 to May 2013, the country’s credit rating declined six times.
Madbouly continued, “In general, the state faced a catastrophic economic situation that led to a sharp decline in the growth rate of 3%, as well as the highest budget deficit rate Egypt had experienced in thirty years by 13%, as well as 516 billion pounds, which represented the largest increase in debt.
The Prime Minister explained that the continuation of these conditions would inevitably lead to more serious conditions for the Egyptian state as a whole, and from here the state’s response to these challenges was in 2015.
It is important to note that the “Economic Conference- Egypt 2022” activities officially began this morning, Sunday, in the new administrative capital.
a roadmap for a more competitive economy,” which the administration is tasked with organising by President Abdel Fattah El-Sisi for three days; To discuss many economic issues and files related to the conditions and future of the Egyptian economy, in the presence of a number of ministers, officials and representatives of government agencies, and the wide participation of senior economists, thinkers and experts..
Madbouly: In 2011, I contributed to the dire economic conditions in Egypt.
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