Latest news with #FacultyofEconomicsandPoliticalScience
Daily News Egypt
14-05-2025
- Business
- Daily News Egypt
Al-Mashat details Egypt's economic reform progress at IDSC conference
Egypt's Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, on Tuesday detailed the nation's efforts to implement its National Programme for Structural Reforms and enhance macroeconomic stability. Al-Mashat was speaking at the annual scientific conference of the Information and Decision Support Center (IDSC), held in collaboration with Cairo University's Faculty of Economics and Political Science. The conference, themed 'Structural and Institutional Reforms in Egypt: The Road to Sustainable Growth,' was also attended by Dr Osama El-Gohary, Assistant to the Prime Minister and IDSC Chairperson; Mohamed Sami Abdel Sadek, President of Cairo University; Hanan Mohamed Ali, Acting Dean of the Faculty of Economics and Political Science at Cairo University; and Omneia Helmy, Professor of Economics at the faculty and Chairperson of the conference. During her address, Al-Mashat stated that Egypt has made significant strides in economic reform over recent years, aiming to achieve macroeconomic stability, address structural imbalances, and bolster the economy's resilience. She said these efforts involved a combination of macroeconomic policy reforms and integrated structural and institutional reforms, implemented by various state agencies and overseen by her ministry. The minister explained that this ongoing process is increasingly acknowledged by the international community and global economic institutions. She noted that major institutions like the International Monetary Fund and the World Bank recently revised their growth forecasts upwards for the Egyptian economy in 2025 and 2026, even as they downgraded forecasts for many other countries due to growing complexities in the global economic landscape. Al-Mashat said this 'confirms the effectiveness of the reform policies adopted by the Egyptian state and the confidence of international partners in its path.' Al-Mashat added that Egypt aims to transform its economic model to achieve sustainable growth, based on tradable and exportable sectors, by stimulating investment, localising industry, and implementing measures to enhance the national economy's resilience and shock absorption capacity. She noted that economic and structural reform measures implemented since March 2024 contributed to a GDP growth rate of 4.3% during the second quarter of the 2024/2025 fiscal year, compared to 2.3% in the corresponding period of the previous fiscal year. 'Despite positive indicators, the most important aspect is the components of this growth and which sectors experienced greater growth,' Al-Mashat clarified. She stated that second-quarter growth was driven by the non-petroleum manufacturing sector, which recorded a growth rate of 17.74% for the third consecutive quarter, compared to a contraction of 11.56% in the same period of the previous fiscal year. Growth was also seen in the transportation and storage, tourism, and communications and information technology sectors, reflecting the impact of structural reforms aimed at enhancing productivity and supporting export-led growth, the minister said. Furthermore, Al-Mashat noted that structural and institutional reforms are a primary focus for the Ministry of Planning, Economic Development, and International Cooperation. These efforts are part of implementing the National Programme for Structural Reforms, in coordination with relevant ministries and in partnership with international financial institutions and development partners. This programme is based on three pillars: enhancing macroeconomic stability, improving the business environment and promoting the competitiveness of the Egyptian economy, and supporting the transition to a green economy. 'There is no doubt that structural reforms are a top priority in the government's programme until 2027, given the pivotal role these reforms play in consolidating macroeconomic stability and enhancing its ability to face external challenges,' she stated. In this context, Al-Mashat added that Egypt successfully implemented over 86 structural measures last year. These included enacting amendments to the Public Finance Law to set an annual ceiling on government debt, preparing a draft procedural guide for programme and performance budgeting, and taking measures to cancel exemptions granted to state-owned enterprises, alongside offering investment incentives and facilitating tax policies. The minister highlighted that her ministry is working to enhance coordination with partners, primarily the European Union and the World Bank, to mobilise funds supporting the state's general budget for the implementation of the national structural reforms programme. Egypt received approximately €1bn from the European Union by the end of 2024. Al-Mashat said the ministry is intensifying efforts with development partners to complete the second phase of the macroeconomic support mechanism and budget support, valued at €4bn, which will see the implementation of numerous structural reform measures to enhance fiscal policy control, stimulate the investment environment, and establish macroeconomic stability. Al-Mashat continued that, as part of advancing the reform process and achieving the transition to Egypt's new developmental economic model, the ministry is preparing the National Narrative for Economic Development. This executive plan aims to achieve alignment between the government programme and Egypt Vision 2030, setting clear targets that reflect governmental ambitions and are consistent with current global economic changes.
Daily News Egypt
14-05-2025
- Business
- Daily News Egypt
Egypt aims to reduce external debt by $1-2bn this fiscal year: Finance Minister
Egypt's Minister of Finance, Ahmed Kouchouk, has stated that the government is targeting a reduction in external debt by $1bn to $2bn during the current fiscal year. This comes as part of a broader strategy to lower government indebtedness, which includes exploring new financing instruments. Kouchouk announced that the government is considering issuing local sukuk (Islamic bonds), bonds targeted at citizens, and others specifically for Egyptians residing abroad. He noted that the external debt of budget entities decreased by approximately $3bn last year. Speaking at the annual conference of the Information and Decision Support Center and Cairo University's Faculty of Economics and Political Science, Kouchouk said the government is working on three fiscal policy priorities to stimulate economic activity and reduce government debt. He added that efforts are also underway to expand the private sector's contribution to the Egyptian economy through ambitious tax and customs facilitation packages. 'We have begun implementing 20 measures in taxes and another 30 measures in customs on a path to incentivise investment,' he stated, clarifying that the goal is to 'simplify tax and customs procedures and reduce production costs in Egypt.' Kouchouk added, 'We expect very ambitious results from the path of trust, partnership, and support for the business community that will drive efforts to broaden the tax base.' He pointed out, 'We achieved the highest increase in tax revenues since 2005, at a rate of 38% during the past ten months, without imposing any new burdens.' He indicated that 'we have enormous scope to overcome tax challenges, many of which do not require legislative amendments,' affirming the aim to 'create sufficient fiscal space to increase spending on supporting economic competitiveness, human development, and debt reduction.' The Finance Minister noted that the private sector 'is moving quickly, recently accounting for about 60% of total investments during the first half of the current fiscal year, with an annual growth rate of 80%.' Mr Kouchouk confirmed that allocations for stimulus packages to support economic activities in the new budget for the upcoming fiscal year have been doubled. He explained that EGP 78bn has been earmarked as 'the largest exceptional support to encourage industrial, export, and tourism activities.'
Egypt Independent
26-04-2025
- Politics
- Egypt Independent
How did the Egyptian press bid farewell to Laila ElBaradei and Ibrahim Shoukry?
The academic and political community on Friday received the news of the deaths of Laila ElBaradei, a professor of public administration at the American University in Cairo (AUC), and her husband, engineer Ibrahim Shoukry, in a car accident. Newspapers and news websites did not report the accident as any ordinary news item, but rather transformed it into an obituary, a fitting farewell for two figures who left a profound mark in their fields. Who was Laila ElBaradei? ElBaradei is the former dean of the Faculty of Economics and Political Science and the sister of Mohamed the former Vice President of Egypt, Mohamed ElBaradei, the former dean of the Faculty of Economics and Political Science, Mona ElBaradei, Dr. Ali ElBaradei; and Dr. Tarek ElBaradei. She was the first Egyptian and Arab woman to win the International Public Administration Award in 2024 from the American Public Affairs Association, a major academic and research achievement for the AUC. She earned her MBA from the AUC and her PhD from Cairo University. She also served as a professor in the Department of Public Administration at the Faculty of Economics and Political Science at Cairo University for approximately 15 years before moving to the American University in Cairo in 2006. For several years, she served as Associate Dean for Research at the Faculty of Economics and Political Science at AUC, helping to sponsor and establish several research centers and projects within the university. Emotional obituaries pour in Though headlines varied, the tone was consistent. A solemn sadness and sincere gratitude were expressed by Al-Ahram newspaper in its description of ElBaradei, articulated by the head of the National Council for Women, Amal Ammar, as: 'A great lady who taught generations and left a clear impact and imprint in the memory of all who knew her.' Al-Shorouk highlighted her long academic career and contributions to developing economics curricula and graduating generations of researchers. Al-Masry Al-Youm combined the two figures in a single obituary, writing about the shock of ElBaradei's students at her sudden death. Al-Balad News website headlined its obituary: 'The Departure of the Two Comrades… A Life of Love for Country and Science.' Analyzing the obituaries The coverage focused on telling the story, not simply announcing their deaths. The Al-Watan newspaper focused on the loving and appreciative relationship between ElBaradei and Shoukry, the son of the late Labor Party leader and former minister Ibrahim Shoukry. News sites such as Masrawy and Al-Ahram Gate published opinion pieces written by students and colleagues of the late academic, discussing her humility, her support for students, and her commitment to the values of integrity. Politics were not absent from the obituaries, especially regarding Shoukry. Newspapers reviewed his father's patriotic stance, his affiliation with the Agrarian Reform Movement, his role in political life, particularly the founding of the Labor Party, and his contributions to supporting the national economy over the past century. Overall, the coverage took on a humane tone, and perhaps this is what distinguished the obituary style in Egyptian newspapers this time, to do justice to those who passed away silently but with a lasting impact. Edited translation from Al-Masry Al-Youm
Al-Ahram Weekly
15-02-2025
- Politics
- Al-Ahram Weekly
Cairo University celebrates 80th anniversary of Egypt's membership in the United Nations - Foreign Affairs
Cairo University hosted a conference on Thursday celebrating the 80th anniversary of Egypt's membership of the United Nations. The conference concluded by strengthening the partnership between the Multilateral Affairs and International Security Sector at the Ministry of Foreign Affairs, the Faculty of Economics and Political Science at Cairo University, and the United Nations Resident Coordinator in Egypt. The conference also announced the launch of a series of events throughout 2025, each dedicated to global issues raised in multilateral forums. The events will cover the three pillars of the United Nations' work: maintaining international peace and security, economic development, and the environment. They will also address human rights and international humanitarian and social issues. The conference was attended by Assistant Minister of Foreign Affairs for Multilateral Affairs and International Security Ambassador Amr Aljowaily, President of Cairo University Professor Mohamed Sami Abdel Sadek, UN Resident Coordinator in Egypt Elena Panova, and Dean of the Faculty of Economics and Political Science Dr. Hanan Ali. They all emphasized the partnership between diplomatic and academic circles and the enhancement of the existing cooperation with the Ministry of Foreign Affairs. Speakers included 18 ambassadors, assistant foreign ministers and their deputies, directors of relevant ministry sectors, the Director of the Cairo International Centre for Conflict Resolution, Peacekeeping and Peacebuilding, 15 directors of UN regional and country offices in Cairo, and 10 professors from the Faculty of Economics and Political Science. Members of the Egyptian Council for Foreign Affairs, researchers from the cabinet's Information and Decision Support Center, and students also participated. Speakers highlighted Egypt's contributions to international peace and security within the UN framework, sustainable development (social, economic, and environmental), climate change, and urban development. They also discussed Egypt's work with the UN and specialized agencies, international and regional blocs, international civil society, and international social and humanitarian issues, including migration, human trafficking, women's empowerment, health, population, and food security. Egypt's role in international legal issues, industry, technology, cultural fields, and cooperation with international and Francophone political and regional blocs was also addressed. The closing session announced an annual conference, which would be held in mid-February. A proposal was made to establish a study unit for professors and a student club for multilateral UN specialists. Plans also include selecting outstanding students to visit the foreign ministry and inviting senior UN officials to deliver public lectures at the university. Short link:
See - Sada Elbalad
15-02-2025
- Politics
- See - Sada Elbalad
'Egypt & UN' Conference in Cairo University Concluded
Rana Atef The 'Egypt and the United Nations' conference concluded its work by strengthening the partnership between the Multilateral Affairs and International Security Sector at the Ministry of Foreign Affairs, the Faculty of Economics and Political Science at Cairo University, and the United Nations Resident Coordinator in Egypt, and launching a series of events throughout 2025, each of which dedicated to global issues raised in multilateral forums. The series of events will cover the three pillars of the United Nations' work, from maintaining international peace and security, economic development, and environment, as well as human rights and international humanitarian and social issues, in celebration of the 80th anniversary of Egypt's membership in the United Nations. The opening remarks by Assistant Minister of Foreign Affairs for Multilateral Affairs and International Security Ambassador Amr Aljowaily, President of Cairo University Professor Mohamed Sami Abdel Sadek, UN Resident Coordinator in Egypt Elena Panova, and Dean of the Faculty of Economics and Political Science Dr. Hanan Ali, emphasized the partnership between diplomatic and academic circles, and enhancing the existing cooperation with the Ministry of Foreign Affairs. The conference agenda included a series of sessions on multilateral topics, with the participation of speakers from 18 ambassadors, assistants to the Minister of Foreign Affairs their deputies, and directors of in the relevant sectors of the Ministry, the Director of the Cairo International Center for Conflict Resolution, Peacekeeping and Peacebuilding, 15 directors of the UN regional and country offices in Cairo, and 10 professors from the Faculty of Economics and Political Science participated. In attendance were members of the Egyptian Council for Foreign Affairs, researchers from the Information and Decision Support Center of the Cabinet, and third- and fourth-year, bachelor's and doctoral students from the faculty. At the various sessions of the conference, the speakers presented Egypt's contributions to the field of maintaining international peace and security within the framework of the United Nations, and in the fields of sustainable development, with its social, economic and environmental branches, climate change, and urban development, as well as its contributions to the United Nations and to specialized international agencies, international and regional economic and political blocs, and cooperation with international civil society, and international social and humanitarian fields, migration, combating human trafficking, women's empowerment, health, population and food security, as well as Egypt's role in addressing international legal issues in the United Nations and in industry and technology issues and in cultural fields and cooperation with international and Francophone political and regional blocs. The closing session announced an integrated work program that also includes the periodicity of holding the conference in mid-February of each year, and a proposal to establish a study unit for professors on the one hand, and a student club on the other hand for specialists in multilateral issues at the United Nations, in addition to selecting outstanding students to visit the Ministry of Foreign Affairs, and the college receiving senior United Nations officials to give lectures in public seminars.
