Director of ENCC: The Egyptian Economy is in Much Better Condition Than it Was in the Nineties




Amina Ganim, Managing Director of the Egyptian National Competitiveness Council, said on Thursday, that the Egyptian economy is in a much better condition than it was in the early nineties, as a result of the adoption of a structural reform program by the government. Ganim added, during a conference organized by the Egyptian National Competitiveness Council, that the new government can repeat the structural reform experience.

She noted that the Council is concerned with reforming the Management of Public Finance, due to its connection with the Egyptian Competitiveness Index, which focuses on raising awareness of the economic and financial policies to be followed.

She clarified that the governmental financial management has a greater reach than managing and executing the General Budget, since it includes all governmental financial dealings, adding that the Council has adopted managing a dialogue between the relevant government agencies, represented by the Ministries of Finance and Planning and Members of Parliament and academics and political party representatives as well as international experts and media professionals, to provide a vision and agenda for reform which should be adopted and implemented by the government, and more importantly to generate a public opinion in favour of these policies.

The manager explained the Council's initiative towards reforming public finance policy has great support from the concerned parties within society and government, the first of which is Dr Ashraf Al-Arabi Minister of Planning, and his Deputy Dr Nehal Al-Mugharbil, in addition to key personnel at the Ministry of Finance and a number of Members of Parliament and academics and media professionals.

Ganim continued; "Due to the parliamentary vote, the budget scheme for the new financial year 2016-2017, will be discussed and approved. As a result, Egypt's position in the Transparency and Disclosure Index will move up by at least 20 positions internationally, which will reflect favourably on our classification in the Competitiveness Index."