During his participation in the Arab Economic Forum in Beirut: “Al-Araby” reviews the experience of economic reform in Egypt
And he affirms: The basic principles on which Egypt’s experience in economic reform was based centered around the integration between the role of the state and the private sector, the synchronization between financial and monetary reform with economic reform, work to improve the investment environment and achieve the goals of social justice.
Dr. Ashraf El-Araby, President of the Institute of National Planning, participated in the economic forum hosted by the Lebanese capital, Beirut, on the 24th and 25th of November 2022, under the title: “Arab experiences in economic reform leading to an agreement with the International Monetary Fund”, during which he presented Egypt’s experience. In economic reform, and lessons that can be learned from the Lebanese case, in the presence of a group of economists in the Arab world under the auspices and presence of Mr. Najib Mikati, Prime Minister of Lebanon and the auspices of the Union of Arab Banks and the International Union of Arab Bankers.
At the beginning of his speech, Dr. Ashraf Al-Arabi stressed, on a set of important messages, that security and political stability is an urgent necessity and a precondition to ensure the success of any financial and economic reform process, stressing that financial and monetary reform must coincide and integrate with the structural reform process, to ensure its sustainability. The reform process, stressing the need to expedite the implementation of the reform process because the delay increases its cost.
He explained that the main objectives of the economic reform process are summed up in achieving political and macroeconomic stability, improving the business climate, deepening labor markets, simplifying regulations, encouraging competition, in addition to improving the allocation of resources in the economy, attracting more investments and increasing productivity in a way that provides an environment conducive to attracting the private sector.
In conclusion, the President of the Institute of National Planning stressed the importance of reforming the regulatory framework, supporting competition, empowering the private sector, improving access to the financing necessary for the development process, strengthening the principles of governance and transparency in state-owned institutions, combating corruption, and consolidating the principles of social justice. He also called for the importance of integrating the role of the state with the sector. The private.
It should be noted that the forum discusses a group of important economic issues, and reviews the obstacles and challenges that stand in the way of reform, in addition to discussing the problem of is the International Monetary Fund a reform necessity or a prelude to a political crisis? In addition to presenting an analytical reading of the Arab experiences in the economic reform process.
