Prime Minister Mostafa Madbouli on Saturday 30/09/2023 said that the state has attained unprecedented achievements in all spheres throughout more than nine years.
The premier was speaking at the "Story of Homeland... Between Vision and Achievement" conference, in the presence of President Abdel Fattah El Sisi.
"It's a great honor and enormous responsibility to be standing before you today to review achievements made by the state over more than nine years in all domains to serve citizens," Madbouli said.
He added that: "Such achievements are unprecedented and have never been witnessed since centuries."
The Prime Minister said the global economic crisis has caused massive challenges, leaving all world countries - specially the developing ones - suffering inflation and hiking prices.
"The citizen always wonders when could our economy be as strong as the economies of Japan, Korea, China, Germany, or even Malaysia, which has now become one of the developed nations," Madbouli said.
The developed nations with strong economies like Malaysia, Singapore and Germany have passed through tough times that required constant hard work over decades, Madbouli said.
He added that Singapore had maintained continued efforts for more than 20 years in order to achieve development.
Prime Minister Moustafa Madbouli, while addressing "Story of Homeland... Between Vision and Achievement" conference, in the presence of President Abdel Fattah El Sisi, said that the success stories of developed countries prove that development has been their top priority and a solution to their problems.
He added that setting up projects, adopting an ambitious national strategy, alongside boosting the expenditure is key for ensuring development of nations.
The Premier highlighted the significance of the infrastructure in luring investments, noting that Malaysia, Singapore, Germany and China have invested almost 20-40 percent of their GDPs in the development of their infrastructure for decades.
The development experience can't be completed in five or 10 years, the prime minister said, noting that many people and intellectuals have been wondering when will the citizens feel the outcomes of the comprehensive development.
Madbouli said that the development process in Malaysia, Singapore, China and Germany has took place over at least 20 years, highlighting that China announced decline in the poverty rate following 22 years of adopting a comprehensive development program.
In his speech at the "Story of Homeland... Between Vision and Achievement " conference, in the presence of President Abdel Fattah El Sisi, the prime minister mentioned a book issued in 2012 under the title "Why Nations Fail" that discusses why are some nations more prosperous than others and why is Egypt so much poorer than the US?
Authors of the book have picked Egypt as a model for a poor state, Madbouli said, noting that Egypt has a complex geographical nature for most of its land is desert with limited resources that are not enough to meet the needs of its population.
The state has launched the "Story of Homeland" initiative in 2013 when the growth rate was less than 2.2 percent, the unemployment rate was estimated at 13.2 percent, the budget deficit amounted to 12 percent and the foreign currency reserve was recorded at 17 billion dollars, Madbouli said.
He added that achieving real comprehensive development required improving the economic growth rate, with a view to creating job opportunities, providing social protection nets for the low-income segments, promoting partnerships with the private sector and minimizing the state's role in economic activities.
Amid the unfavorable political and security circumstances of Egypt in 2014, the private sector was unqualified to lead the development process solely, the prime minister said.
He noted that such exceptional circumstances pressed the state to carry out the development process through adopting a comprehensive development program.
"Since 2011, we have been working amid a prolonged economic crisis," the premier said, noting that between 2011-2016 the state has accomplished its economic reform steps which continued till the year 2019.
He pointed out to the challenges posed by the outbreak of the coronoavirus in 2020 and the rise in the global inflation rate caused by the Russian-Ukrainian crisis that have pressed the state to work amid consecutive crises.
Madbouli pointed out to the state's strategy for urban development for the year 2050, highlighting that the plan was outlined by 34 Egyptian experts and consultants in all domains to make a proposal on the method of building a successful state.
Addressing the "Story of Homeland... Between Vision and Achievement " conference, in the presence of President Abdel Fattah El Sisi, Madbouli said that the state has spent some EGP 9.4 trillion throughout the past nine years on the development projects.
He added that the sums spent on the development projects represented 22 percent of the GDP.
The premier reviewed issues which had been facing the Egyptian people in the year 2014, including the crises of electricity and butane gas, highlighting the state’s efforts to solve these crises as well as the problem of slums by providing safe residential units for their dwellers.
The state has introduced six tracks for achieving development, including improving infrastructure, ensuring integration in the global economy, attaining food security and adopting social protection programs, Madbouli said.
The premier highlighted the issue of population distribution and density in Egypt, saying that 56 percent of urban residents are living in the Greater Cairo and Alexandria.
The state has increased the urban areas from seven to 13.8 percent, Madbouli said.
He reviewed progress achieved in upgrading the roads network, the Nile axes as well as the transport and railway sector.
Source: State Information Service Egypt