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Wednesday, 17 April 2019

Are progress reports on Egypt’s economic reform conveying the true picture?

An academic perspective on Egypt’s economic reform program caught our attention on an otherwise bland night for business on the nation’s airwaves.

Are economic progress reports telling the full picture? Despite many positive reports on the economy by international bodies and research houses, most Egyptians feel they aren’t faring any better. That was the opening salvo for a conversation between Masaa DMC’s Osama Kamal and Arab Academy for Science Technology visiting professor of management Sherif Delawar (watch, runtime: 4:37). The key, Delawar said, is that financial institutions who tend to see the economy in isolation.

We should be paying more attention to institutions with multidisciplinary approaches, he added, citing as an example socioeconomic reports by the UN or the World Economic Forum that address “every aspect of citizen welfare.” Delawar pointed out that there have been improvements including a rise in export revenues for the first time in 15 years and progressive legislation. But there is still a long way to go before the average person the street feels the benefits.

Madbouly, El Gazzar tour New Alamein: Al Hayah Al Youm’s Lobna Assal highlighted a visit by Prime Minister Moustafa Madbouly and Housing Minister Assem El Gazzar to inspect construction works at New Alamein’s beachfront (watch, runtime: 2:17). New Alamein is part of the “fourth generation of new cities,” Assal added, noting that infrastructure in the city (which is being built to serve as home to 3 mn residents) will be eco-friendly.

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