Dr.
The result of the flawless execution of the economic reform programme, which received praise from international financing and classification institutions, Mohamed Moait, Minister of Finance, confirmed that the Egyptian economy has become more attractive to foreign investments. He added that the indicators of the fiscal year ending in June 202 were good because we were successful in converting the first budget deficit, which lasted for more than 21 consecutive years, into a surplus.
3 % In June 2022, for the fifth year in a row, we recorded the highest growth rate since 2008 by 6. 6 % and descending at the rate of budget deficit for the local product to 6. 1 % and reducing the debt rate for the local product to 87. 2 % and we aim to reduce it to 75 % by 2026.
The minister stated during his meeting with Dominique Joh that we are eager to increase joint cooperation, exchange experiences in port management, develop the customs system, and benefit from the Singaporean experience after Singapore has become a global hub for logistics services, particularly in light of the government’s efforts in implementing the national project To develop and conceal the customs system; In a way that contributes to reducing the average time for customs clearance.
The minister explained that an open dialogue will be held with representatives of Singaporean companies in Egypt to encourage and develop Singapore investments in various economic sectors, in a way that contributes to achieving economic and development targets, improving the standard of living of citizens, and advancing the business community. This is done within the framework of the state’s keenness to attract more local and foreign investments and overcome obstacles to the business community.
Al-Shahat Gutouri, the head of the customs authority, Mukhtar Tawfiq, the head of the tax authority, Ambassador Dr. Hossam Hussein, the advisor to the minister on international affairs, Nisreen Lashin, the head of the investor support unit, and Duaa Hamdi, the head of the foreign relations unit, all attended the meeting.
Moait discusses with Singapore ways to strengthen their current partnership in port administration and the growth of the customs system.
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