Egypt’s Economic Reforms and Diversification of Dollar Income: What’s Next for the Government?

The economic measures and economic reforms carried out by the state, especially in the exchange file, and the end of two prices for the dollar in Egypt taught a very important lesson to the government, namely the stability of sources of dollar income for of Egypt. , increasing the export bill and reducing the import bill .. I wonder what the state is doing to diversify and continue the sources of dollar income for Egypt .. What are the targets of the state for the dollar in the new term of the president?

As we know, the Egyptian economy suffered a lot in the past, and this is what made the black market in money trading accept it as a product and increase, especially since the state came for a time and had no solution to the crisis of lack of foreign currency, and most sources of income The dollar has all been affected, whether from tourism, money from Egyptians abroad, or the Suez Canal, due to the political events taking place in the Arab region.
The economic crisis that went through Egypt in the last few months left the government looking for new ways as sources of dollar income for Egypt, and tourism investment was the password in solving the problem, and the beginning was with the entry of the United Arab Emirates. as an investment partner in the Ras Al-Hekma project with a contract worth 36 billion dollars directly.
So, what will the government do in the near future?
The current government sees the diversification of sources of dollar income as the safe solution for the Egyptian economy, meaning that if one door of dollar income is blocked, the other door is blocked, and so on the government also sees that Egyptian income from exports is very small compared to what Egypt’s exports are supposed to be, and it is that is why the government is doing this. and increasing Egypt’s export bill in hard currency.
Prof. said. to a specific schedule, and that he directed the government to hold meetings from time to time to develop the terms of the plan to increase the total export and stability of their properties.
Dr. Mustafa Madbouly also spoke and said that the dollar shortage crisis that the Egyptian economy went through in the past was mostly due to continuous external shocks, despite the difficult as it was, it proved that it was inevitable to rely on the stability of hard money. resources, and that everyone agreed that industry and export are the most important resources that will bring in Hard Money to Egypt.
The Prime Minister then held a meeting with the heads of the export councils, and told them that we had held meetings more than once before. With the aim of working to push and encourage the different export sectors to increase Egypt’s total exports, which will reach 53 billion dollars per year with simple calculations, if we manage these numbers increase by 17 to 18%, we will reach in 2030 the. export value to 145 billion dollars, which is a good percentage for Egyptian exports, especially since Egypt has many resources that are in global demand.