Ongoing crises pressure emerging, developing economies including Egypt, Economist El-Erian tells Egypt’s Economic Conference 2022 - Economy - Business
Global economist Mohamed El-Erian addressing Egypt s Economic Conference kicked off on Sunday in a recorded message
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El-Erian made his comments in a recorded message aired during Egypt’s Economic Conference, which kicked off on Sunday at the New Administrative Capital in the presence of the President Abdel-Fattah El-Sisi.
The Egyptian-American economist noted that the Russian-Ukrainian conflict has curbed the global economy’s ability to grow as well as accelerated the headline inflation rates driven by the food and energy prices crisis.
“The majority of countries across the world have lost their ability to grow in terms of their economies as well as their capability of dealing with the ongoing crises,” according to El-Erian.
El-Erian also said that the shocks that global economy and the world financial system are experiencing are unprecedented, stressing that these challenges require a more sustainable and inclusive economic growth and a more resilient financial system rather than the artificial finances provided through the central banks across the world.
The three-day is being held in response to President El-Sisi’s directive to chart a clear path for the Egyptian economy amid the ongoing global crisis.
The conference focuses on exploring ways to increase the private sector’s share in Egypt’s economic activity and its GDP as well as ways to support the national economy while navigating the ongoing global economic crisis and its associated severe impacts."
Egypt’s Economic Conference 2022 kicks off in presence of President Sisi - Economy - Business
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The prime minister made his remarks in the opening speech of the Egyptian Economic Conference 2022 that kicked off on Sunday in the New Administrative Capital east of Cairo in the presence of President Abdel-Fattah El-Sisi.
"Egyptian Economic Conference 2022 comes amid one of the worst global economic crises in 80 years," added Madbouly about the conference that is centered around the theme: “a roadmap to a more competitive economy.”
Senior government officials, high-profile economists, intellectuals, thinkers, specialists, businessmen, as well as representatives of more than 80 political parties and parliament members are attending the three-day event.
The EEC 2022 was called for by El-Sisi in early September when he urged the government to organise an economic conference to discuss the present economic conditions to boost all sectors of the domestic economy. . .'
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The prime minister made his remarks in the opening speech of the Egyptian Economic Conference 2022 that kicked off on Sunday in the New Administrative Capital east of Cairo in the presence of President Abdel-Fattah El-Sisi.
"Egyptian Economic Conference 2022 comes amid one of the worst global economic crises in 80 years," added Madbouly about the conference that is centered around the theme: “a roadmap to a more competitive
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