Finance Minister discusses Egypt’s strategies amidst global challenges at key international summits

Daily News Egypt
2 Min Read

Mohamed Maait, Egypt’s Finance Minister and the head of the Comprehensive Health Insurance Authority, will engage in a series of significant activities in the upcoming hours. Starting Monday, he is scheduled to attend the spring assemblies of the IMF and World Bank in Washington, as well as the G20 finance ministers’ meetings. He will also take part in the World Bank’s annual Health Financing Forum, which this year focuses on “Investing in Health Beyond the Pandemic – Tackling Health Financing Challenges.”

Representing the interests of developing and African nations, Maait will advocate for reforms to the international financial architecture to better serve these regions. He will outline Egypt’s approach to navigating global and local challenges that adversely affect developing economies. He will detail Egypt’s recent economic advancements, which are designed to bolster the private sector’s role in driving economic progress and expansion. Additionally, he will stress the importance of investing in human capital, particularly through enhanced funding for health and education, to elevate the quality of life for citizens.

The Finance Minister will share insights into Egypt’s adept management of public finances in the face of significant economic deceleration and geopolitical tensions both regionally and globally. These efforts have yielded positive results, as evidenced by the encouraging financial indicators over the last nine months of the current budgetary year, reflecting the commitment to fiscal prudence.

Maait will emphasize the critical role of global collaboration in mitigating the adverse effects of worldwide economic downturns, especially the severe inflationary pressures that have led to increased prices for essential commodities and services, affecting burgeoning economies. He will call on international entities and development banks to intensify their involvement during these extraordinary times by providing broader access to affordable financing that underpins developmental objectives and ecological sustainability.

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