Egypt’s FinMin says emerging markets most vulnerable to external shocks
Egypt is showing resilience amid proactive policy measures
Emerging and developing economies are the most vulnerable to current regional shocks, with rising energy prices and supply-chain disruptions posing key global risks, Egypt’s Finance Minister Ahmed Kouchouk said in Washington.
Speaking at a gathering of Middle East and North Africa finance ministers in Washington during the IMF and World Bank Spring Meetings, Kouchouk said Egypt’s economy has shown resilience in absorbing external shocks, supported by what he described as proactive and coordinated policy measures.
He said the government is pursuing a balanced policy mix aimed at sustaining growth while protecting the most vulnerable groups.
Kouchouk also underscored the need to accelerate the transition towards a greener economy and expand renewable energy investments amid global uncertainty.
He added that key indicators, including economic growth and the primary surplus, remain positive, while debt and the overall fiscal deficit as a share of gross domestic product are on a declining path.
Attribution: Amwal Al Ghad English