Sisi expects: Egypt’s economy to rise 5.5% this year

President Abdel Fattah al-Sisi stated on Friday that the government expects Egypt’s economy to rise 5.5 percent through the current financial year.

This announcement were made during Sisi’s speech via video-conference, through his participation in the St. Petersburg International Economic Forum in Russia.

Al-Sisi said that Egypt’s non-oil exports rose through 2021 to reach $32 billion. Egypt has renewed the legislative structure to attract more foreign investments. It also qualified Egypt to be the first country for foreign investment in Africa, Al-Sisi explained. Egypt has become one of the few countries in the world capable of achieving a growth rate of 3.3 percent in 2021 despite global challenges.

Saint Petersburg International Economic Forum’s events were started on Friday, among the participation of Arab countries, including Egypt as a guest of honour. The four days Forum is held face-to-face in its 25th edition, considering the rules of health prevention and using modern digital technologies. The event attracts more than 13,500 participants from 141 regions and countries worldwide.

43 ministers are participating in the forum from foreign countries, including from Arab countries such as Egypt, the UAE and Syria, according to the data of the event’s organizing body, the Roscongress Foundation. It represents as an actual platform for exchanging views and experiences between policy makers, officials and representatives from various countries in the business sector.