"Egypt's economic reform programmes will help increase economic growth rates to 7 percent by the end of 2007,"said Governor of the Central Bank of Egypt (CBE) Farouk El-Okda in his speech at the 2007 annual meetings of the Boards of Governors of the African Development Bank Group (African Development Bank and the African Development Fund), Which started in China on Wednesday 17/5/2007.
Okada noted that last year's economic growth rates which reached 6.8 percent are expected to reach 7% this year.
The sound Egyptian economic reforms were reflected on the volume of foreign debts, which were reduced to $28.7 billion while foreign currency reserve exceeded 27 billion dollars. Okda noted that Egypt was keen on maintaining partnership with the ADB to be financed via non-traditional resources.
He underlined the importance of cooperation with major countries to help ease poverty in the African states.
Efforts exerted by the eight industrialized countries together with international organisations have already helped improve the situation of African foreign debts, he pointed out.
Also, several African states have exerted much effort to improve their investment and facilitate the operation of the private sector to play more effective role in the development process.
Egypt's Consul General to China Khaled Abdel-Rahman said the Egyptian delegation to the African event, led by Oqda, attended the first session of the board that kicked off earlier this morning to endorse a report of the joint steering committee of the ADB board and that of the African Development Fund.
By messages in media it seems to be that Egypt economically is doing well. But I hear people complain about raising prices while salaries are staying the same..Since a long time there seems to be enough work,foreign investors are coming, but the common people can`t affort anything. How about it?
Posts: 7202 | From: EU | Registered: Nov 2006
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Someday I want to be rich. Some people get so rich they lose all respect for humanity. That's how rich I want to be.
Posts: 53 | From: In the ring | Registered: Jul 2007
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No, for the majority of Egyptians their lifestyle doesn't improve even though the economy grows. This is a very unsatisfying fact.
Posts: 30135 | From: The owner of this website killed ES....... | Registered: Feb 2004
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yes , i can feel this 7 % growth in our very strong economic , the number of nails in loaf decresed to 2 nails per loaf. Posts: 367 | From: cairo , egypt | Registered: Aug 2001
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quote:Originally posted by karemo7: yes , i can feel this 7 % growth in our very strong economic , the number of nails in loaf decresed to 2 nails per loaf.
Reminds me on a situation 17 yrs ago. Somebody offered me a companionship in a company,against 25% of the profit. His accountant adviced me to refuse. 25% of zero is still zero, he said gently. Posts: 7202 | From: EU | Registered: Nov 2006
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quote:Originally posted by Gascious_Clay: As long as I can still be rich.
Well, do something exceptional, like women have been doing for ages: Find yourself a aged wealthy woman, preferable with a not to good health, marry her in communality, put your fysical aversion aside, and make her believe that age is just a number, and that the young skipper in The Onedinline also became a loving and caring husband to his wealthy old wife. Remark the prophet, and let her read all the positive posts her.(Don`t forget to handle over her reading glasses first) Don`t teach her how to use the internet! Just keep her as ignorant as she was when she met you! In a short time you will become rich by doing nothing as telling stories. Easy enough????
Posts: 7202 | From: EU | Registered: Nov 2006
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quote:Originally posted by karemo7: yes , i can feel this 7 % growth in our very strong economic , the number of nails in loaf decresed to 2 nails per loaf.
Reminds me on a situation 17 yrs ago. Somebody offered me a companionship in a company,against 25% of the profit. His accountant adviced me to refuse. 25% of zero is still zero, he said gently.
awwwww , if you started your own business from 17 years ago around 1990 , may be you have now tenth of millions , coz egyptian economy were a srtong untill 2002 and start fall down ,it start grow but not in the same rate .
Posts: 367 | From: cairo , egypt | Registered: Aug 2001
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I can feel it, but I imagine it is more noticeable for me since I get a new look at the country every year. I spend time abroad, then when I return to visit Egypt I notice which things have changed.
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,it start grow but not in the same rate .
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