Egypt’s economy is doing well, part XXVI
Finance Minister Mohamed Maait’s talk about the IMF and World Bank’s spring meetings was a big topic on the airwaves last night
Egypt’s economy is doing well, part XXVI: Egypt’s economic reform program has received “encouraging signs and praise songs from the local and international investment community,” Maait said after convening with heads of international investment banks on the sidelines of the meetings, according to Hona Al Asema’s Reham Ibrahim (watch, runtime: 10:31). Ibrahim also rang up Youm7’s Ahmed Yacoub, who covers the economy beat. Yacoub said discussions held by Maait and Central Bank of Egypt Governor Tarek Amer during the meetings show that there is “great confidence” in Egypt’s economy going forward, citing the latest World Bank MENA report. We have more on the spring meetings in this morning’s Speed Round, below.
El Hekaya’s Amr Adib, meanwhile, fell in love with a large scale greenhouse project in 10th of Ramadan (watch, runtime: 3:45). The project, inaugurated last December, is home to locally-made, highly productive greenhouses, he said, and employs 5k workers. Some 100k feddans are covered with greenhouses as part of a series of projects that aim to hike Egypt’s agricultural by as much as 4x while cutting water consumption by about 60%, Agriculture Minister Ezzedin Abu Steit previously said on the airwaves.