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Arab banks»: reform restored the economic stability of Egypt
28/7/2018 12:00 am [rtl]At the Conference «Green Banking - The Road to Sustainable Development» Cairo / Follow-up morning A conference of the Union of Arab Banks, in cooperation with the Central Bank of Egypt and the Union of Banks of Egypt, will be concluded on Saturday under the title 'Green Banking - The Road to Sustainable Development' in the Egyptian city of Hurghada. The Secretary-General of the Union of Arab Banks, Wissam Fattouh: "The Egyptian economic reform program has achieved positive results contributed to the restoration of macroeconomic stability and the return of Egypt to the path of strong and sustainable growth." "The Egyptian government has taken important measures aimed at improving the workers' climate, such as approving licensing, investment and bankruptcy laws ," Fattouh said in his speech during the conference . "The economic reforms implemented by Egypt have succeeded in restoring confidence in the Egyptian economy. The IMF expects the Egyptian economy to achieve growth rates of 5.2 percent this year and 5.5 percent next year compared to 4.2 percent in 2017. " Economic conditions improved, unemployment in Egypt fell to 10.6 percent in the third quarter of fiscal year 2017 - 2018 and predicted 'international money' "The reforms contributed to raising the foreign exchange reserves to 44.26 billion dollars at the end of June compared to 19 billion dollars before the liberalization of the exchange rate. Fattouh pointed to the increasing revenues of the Suez Canal and the remittances of Egyptians abroad, which amounted to more than $ 21 billion in the first ten months of the fiscal year 2017-2018. He stressed that "fiscal policy in Egypt aims to reduce the budget deficit by increasing revenues and rationalizing spending, Pointing to the International Monetary Fund expected to decrease the budget deficit in Egypt during the next five years. "The sectors of trade, real estate, construction and growth, as well as tourism, registered the largest contribution to economic growth," he said. "The liberalization of the exchange rate has contributed to the competitiveness of domestic goods and services, thus increasing domestic demand for domestic output, Economic growth rate ". Under the patronage of Governor of the Central Bank of Egypt Tariq Hassan Amer, and attended by Deputy Governor of the Central Bank of Egypt Jamal Najem and a host of senior officials, the forum highlighted the concept of green banking and sustainable development with its economic, social and environmental dimensions and the impact of climate change on banking and financial services. The future. The forum provided an opportunity to learn about the best practices of green banking, sustainable financing, review of the experiences of countries, the role of corporate social responsibility in achieving sustainable development, the role of the financial sector and legislative and regulatory bodies in managing environmental and social risks in the application of green banking. Money and banks in the Arab world.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=160685[/rtl] |
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