Major challenges facing the national economy, limiting the growth rate and hindering development plansCopy
The Cairo Institute for Financial and Economic Studies said that there are 5 main challenges facing the national economy that limit the growth rate and hinder development plans.
Accountant Ashraf Hajar, head of the Cairo Centre for Financial and Economic Studies, stressed that the first and most serious challenges are how to overcome the burden of debt service and stop borrowing after the external and domestic debt reached record rates.
He said that the second challenge is to stop the bleeding of investment certificates with exaggerated investment returns, as they push real investments operating in the country to slow down as a result of the high costs of financing them. Ashraf Hajar pointed out that the third challenge is to encourage investments of all kinds, especially the existing local before the new local, both before foreign investments, he explained that the fourth challenge is to stop the collapse of the local currency through solutions far from the use of monetary policies, whose side effects are often greater than their positive economic return. The head of the Cairo Center for Financial and Economic Studies said that the fifth challenge is opening the door for Egyptians abroad to establish projects on the homeland with their investments in currency and overcoming the difficulties and fears they face, as it will be much better than just obtaining their remittances in the form of foreign currencies and then returning them to them in Egyptian currency, where the role of the state towards its children must be deeper than just an exchange office. He said that we are confident in the ability of the Egyptian state and its people, with God's help, to overcome these challenges and pass Egypt to safety.