Dr. Ashraf El-Araby, President of the Institute of National Planning, presented a scientific symposium entitled Scenarios for the Egyptian Economy to Confront Global Economic Challenges, at the Faculty of Business, New Mansoura University, under the auspices of Prof. Dr.. Moawad Al-Khouli, President of the University, in the presence and wide participation of the deans of the faculties, the Secretary General of the University, the directors of scientific programs, and a number of faculty members and students.
And began d. Ashraf Al-Arabi reviewed the extremely difficult and complex conditions that the global economy is going through, as it faces a set of challenges. As a result of the lack of main inputs for production, the decline in manufacturing industries in many countries in light of the lack of supplies along with the recovery of demand following the Covid 19 pandemic, and the rise in primary commodity prices, which led to unprecedented increases in inflation rates and a decline in growth rates, in addition to the increasing fragility of non-bank financial institutions. With debt rising to record levels.
Al-Arabi explained that the rise in global interest rates led to the turmoil of financial markets, the rise in the cost of financing, and then the increase in financial risks, and the situation became more complicated after the Russian-Ukrainian crisis, and they are two important countries in the field of agricultural commodities in general, and food products in particular, which led to High inflation rates on the one hand, and low global growth rates on the other.
Al-Arabi pointed out during the seminar that although the current crises are external crises whose effects are reflected in the various economies, there are several factors that have led to an increase in the burdens placed on the state to deal with these crises, including the high population increase.