How does Egypt achieve $ 380 billion in foreign reserves? …...

Economists confirmed, that the president’s speech Abdel FataH Sissi, regarding Investigation Spare Foreigner $ 380 billion is possible, provided that work is done to improve the country’s hard currency resources, out of its five resources, aThere are many challenges facing all countries of the world, most notably Corona, and its negative effects on world economies, and that this requires a great effort to achieve growth. Economic, And increase the reserve The foreigner.

Dr. said honorary Tread, The expert EconomicThe president’s talk about achieving 10 times the reserve The foreigner The current situation is not impossible to achieve, but it will be necessary to work in the coming years to increase the sources of financing.

و .ضاف Tread For «Al-Masry Al-Youm », that the five sources of funding for foreign currency in Egypt,» the Suez Canal, And exportsAnd remittances from Egyptians abroad, tourism, and foreign investments, it is necessary to work according to a deliberate plan to increase them in the coming years.

و .شار Tread That being said, exports are currently in the range of The 30th One billion dollars a year, and it is expected to increase to 100 billion in the coming years, By increasing energy production, gas exports, and electricity exports through linkage projects Electrocardiogram, With neighboring countries, such as Saudi Arabia, Jordan, Iraq, and Sudan, as well as interest in a market Real estate And exporting the property to investors Foreigners, especially Arab businessmen, increase industrial products for export, after determining Needs The markets to which you will export, according to a careful study.

و .وضح Tread Egypt has nearly 9 citizens abroad, the size of what they get is approximately $ 150 billion. About $ 27 or $ 28 are transferred annually, after what they spend abroad, of which more than 50% are in Arab countries, والباقى in all areas the world, Confirming On the need to have incentives for these to increase Their transfers to Egypt, by facilitating the procedures for obtaining them My landsAnd other things that they want to invest.

ونوه Tread To Egypt’s role in the Libyan crisis, which helps the return of employment, and its increase with the beginning of the reconstruction. The priority will be for Egyptian contracting companies and Egyptian labor, which will help increase remittances.

و .وضح Tread until Increasing tourist destinations in Egypt, such as the Grand Museum, the Administrative Capital, and the new Alami, are working to increase the number of tourists to Egypt, and that this will be Noticeable yet Corona has ended, and the vaccine and treatment will appear, indicating that this will be evident from 2021.

وقال Fiki, it is From the necessary There should be an interest in investing The foreigner Direct, and that the state gives priority to that where we have seen So through The 20th A new industrial city, such as Burj Al Arab, El Alamein, New Damietta, and the Suez Canal Axis “the Economic Authority”, but it is necessary to promote these Projects, during the coming period.

و .وضح Tread That the return from the five sources of foreign currency in Egypt, before the emergence of the Corona virus, was approximately $ 90 billion, ”and that Egypt was importing needs of nearly 75 billion Dollars, And that the number has recently decreased to 67 billion Dollars, and it should Decreases even more as exports increase.

وقال Fiki, if Egypt has started a step on the path of a thousand steps, and more work and effort must be made to achieve the dream.For We must achieve our dream We operate, AndWe get tired a little, no dreams Check Without effort and fatigue «.

For his part, said Wael Al-Nahhas, the expert Economic, Egypt is if It was able to achieve 380 billion dollars As a reserve aMy sideIt will become a superpower, and that did not happen between day and night, and an ambitious plan must be worked on to achieve this in the coming years.

و .ضاف Copper, it is a must a plus Investments And that this will not be achieved unless the energy and electricity prices of factories in Egypt are reviewed, as they are much higher than prices in many countries, and that the prices are in a Egypt from The highest prices in the world, and those who continue will not come in the presence of those prices.

Al-Nahas pointed out that Egypt had achieved self-sufficiency in gas, and began to export, however, even Now the price Export To gas Egyptian High compared to international prices, Because of the high cost of production, it’s off the necessary Reconsider how to reduce that cost.

Copper, explained that there is a trend economic my world To go to invest in the Middle East, because The decline in global growth rates, the deterioration of some global economies, and that the market in the Middle East is promising The most recent Huge expectations for growth rates in the countries of the Middle East are great, and Egypt must create the climate Investment To attract the huge foreign capital that will go to Egypt in the coming years.

Al-Nahas also called for the necessity to activate decentralization, and that it is time The time to activate them is to take actual measures to eliminate bureaucracy, create a climate to attract foreign direct investment, with attention to local industry, and to identify products to be exported, according to the needs of foreign markets, and to work on promoting tourism and the Suez Canal Economic Zone, according to a plan Thoughtful, though This requires everyone’s efforts to make the matter successful, especially in light of the challenges, the most prominent of which is the economic downturn Global, After the spread of the Corona virus, there has been no access to a vaccine or treatment yet.