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National resilience essential to minimise consequences of shocks: Booz Allen Hamilton - Daily News Egypt

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National resilience essential to minimise consequences of shocks: Booz Allen Hamilton

The negative consequences of a major disruptive event can affect up to 20% of a country’s GDP, according to a press release issued by the firm

A well-articulated national resilience strategy could help the Egyptian government minimise the social and economic consequences brought about by difficult conditions, according to a press release issued by Booz Allen Hamilton under the name “Building National Resilience.” The press release aimed at highlighting the importance of national resilience—a nation’s ability to survive crises, seize existing market opportunities, prevent and manage risks in a changing world, and make it a strategic imperative to achieve tangible economic development.

“The growing number of natural and man-made disasters around the world—from earthquakes and floods to recent cyber attacks against organisations—highlights the need for countries of the Middle East and North Africa (MENA) to adopt a national resilience framework,” the release said. It explained that a comprehensive national resilience framework can help alleviate economic volatility and critical social issues.

The data from the Organisation for Economic Cooperation and Development (OECD) shows that the negative consequences from a major disruptive event can reach up to 20% of a country’s gross domestic product (GDP).

Nabih Maroun, executive vice president at Booz Allen Hamilton MENA said that the risks faced by MENA countries are diverse, ranging from epidemics to human-related accidents. “We encourage regional governments to make national resilience an integral part of their strategic agendas in the next few years to address such possible disruptions, which are concerns for all mature economies,” Maroun said.

“The 2014 Ebola outbreak has provided the starkest contrast of how building resilience can affect catastrophic events. Sierra Leone experienced the highest rate of infection in Africa with 8,706 reported cases, along with the second highest death rate, whereas Nigeria successfully contained the outbreak, suffering just 20 cases and eight deaths. How is it that these two West African states had such markedly different outcomes? The answer lies in resilience,” the release said.

Booz Allen Hamilton said that the best way to tailor resilience strategy is to adopt and implement a comprehensive framework, adding that the World Bank and the OECD have published resilience guidelines that are widely recognised in the international community.

Regional governments are encouraged to develop bespoke resilience roadmaps and agree upon a vision that is aligned with their national priorities and which includes the participation of central government, local authorities, private-sector stakeholders, and, in certain instances, society at large, according to the press release by Booz Allen Hamilton.

Booz Allen Hamilton provides management and technology consulting and engineering services to leading corporations, governments, and non-profit organisations across the globe. Regional MENA offices are located in Abu Dhabi, Beirut, Cairo, Doha, Dubai, and Riyadh. Its international headquarters are located in McLean, Virginia. The firm employs more than 22,600 people globally and had revenues of $5.41bn for the 12 months that ended on 31 March 2016.

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