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Planning: Gross Domestic Product (GDP): 7.1 trillion in the fiscal year 2021/2022 plan.


Hala Al-Saeed: The plan estimated the rate of economic growth at about 5.4%

 

Hala Al-Saeed, Minister of Planning and Economic Development, delivered today the final statement of the development plan project for the fiscal year 2021/2022, and the main features of the plan document in its fourth and last year of the medium-term legislative plan for sustainable development during the 9/18/2019 session of the House of Representatives.

 

Reviewed Hala Al-Saeed Basic features of the document development plan for the fiscal year 21/2022, explaining that it was prepared under unfavorable conditions, witnessing the continuing spread of pandemic Kovid -19, as from the economic perspective, the estimates show the world suffered the whole damage and significant loss reflected in the economic indicators.

 

She happy that despite the negative effects brought about by the pandemic on the Egyptian economy, and the decline in the economic growth rate, but the Egyptian economy was able to withstand the imposed challenges, thanks to the country's swift action to meet them to take a package of curative and preventive medical measures, and financial and economic, most notably Allocating 100 billion pounds in an urgent manner to confront the pandemic, and providing support to the affected sectors and establishments through a group of reactive and supportive initiatives.

 

Al-Saeed stressed that the program's economic success adopted by the state since 2016 boosted the effectiveness of measures to strengthen the pillars of the architecture of economic and make it more solid in the face of the pandemic and its implications, pointing to a tribute to international institutions do, and declared Egypt topped the list of Middle East and North Africa economies, in terms of Realized rates of economic growth.

 

Al-Saeed indicated that the achieved growth is associated with a decrease in unemployment rates to about 7.2% in the second quarter of 20/2021, a decrease in inflation rates to about 4.8% in January 2021, its lowest level in 14 years, and a decrease in the poverty rate for the first time in 20 years (1999). ) From 32.5% to 29.7%, to decrease the poverty rate in all regions in rural and urban areas, in addition to establishing international credit rating institutions, such as Fitch, Standard & Poor's, and Moody's for Egypt at the B2 level on the long term.

 

Al-Saeed confirmed that the year 21/2022 plan is still an extraordinary plan like its predecessor, 20/2021, graduated from the traditional pattern of customary under normal circumstances, due to the worsening of the pandemic since the last months of the year 2020, and the emergence of the second wave and new strains of the virus rapidly spreading.

 

Al-Saeed pointed out that one of the scenarios put forward regarding the timeframe for the demise of the pandemic and a return to normality, adopted a development plan for the year 21/2022 scenario of a moderate, assumed gradual improvement in economic performance during the first half of the plan, then accelerated growth in the second half, with Tightening control and containing the pandemic.

 

Al-Saeed indicated that the plan estimated the economic growth rate at about 5.49%, compared to an expected growth rate of 2.8% for 20/2021, and an actual 3.6% in 19/2020, and is close to the rate of 5.6%.

 

D.halh Al-Saeed added that the plan estimates for the rate of 5.4% growth based on five main considerations is to anticipate tightening containment of the pandemic by mid-2021, before the beginning of the plan, due to the discovery of vaccines, and dissemination of availability, and thus the gradual erosion of its implications in the first half of the year 21/2022, and on the assumption of continuing commitment to the application of precautionary and preventive measures until their demise is fully realized.

 

Al-Saeed said the second of those considerations represent the further implementation of the reform of economic and social program, to move to implement the second phase concerned with structural reforms, which are assigned a priority for development based mainly on agriculture, industry and the real economy, communications and information technology, with a focus on improving the productive sectors of productivity, and increase their competitiveness In light of the export-oriented growth strategy.


On account of the third and fourth yen Said explained that they Eetmthela continue to support monetary policy and fiscal policy to aspects of economic activity to move the markets and the development of demand with a view to wheel drive production and operation, and through the adoption of financing initiatives and policies facilitative and stimulus packages for the private business sector, as well as the rationalization of aspects of public spending, With the increase in allocations directed to investment in the fields of education and health, and the advancement of human development services in general, in order to fulfill the constitutional entitlements concerned with these.

 

The associated account of the fifth and final Said explained that it is based on the follow-up to the implementation of the national projects plan aimed at pumping large investments in the arteries of the national economy, especially in infrastructure and urban development, which activities give more room for the operation and participation of the private sector, as well as the provision of basic infrastructure catalyst for private investment In agricultural, industrial, tourism and urban projects that benefit from the availability of high-quality infrastructure.

 

D.halh Al-Saeed added that it is estimated that the gross domestic product up in the plan to about 7.1 trillion pounds at current prices by 11.7% growth from the previous year output of about 6.4 trillion pounds, as gross domestic product at constant prices is estimated at 4.3 trillion pounds in the plan .

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