The Egyptian economy continues to show the resilience it has displayed throughout the COVID-19 crisis, due to the macroeconomic and energy sector reforms it has implemented in recent years, the World Bank said.
In its Egypt Economic Monitor Report for December 2021, released on Tuesday 8/2/2022 during an event held in cooperation with the International Cooperation Ministry, the bank also attributed such resilience to the measures taken by the government to ease monetary conditions, provide selected sectoral support, and mobilize external financing.
Real GDP growth and foreign income activities started recovering in Q4-FY2020/21, says the report, which is titled: “The Far-Reaching Impact of Government Digitalization.”
Under this scenario, Egypt’s growth would revert to its pre-pandemic path, reaching a pace of 5.5 percent in FY2021/22, the WB noted.
In the second chapter, the report shed light on the government’s consolidated efforts to harness digital technologies to improve its performance.
There is an opportunity to build on the recent advancements to improve key governance indicators such as “the efficiency of public institutions,” a key priority articulated in the National Structural Reform programme (NSRP), the report says.
Egypt has reached quite an advanced level of government digitalization, through providing online government services (e-portals) for individuals and businesses (user-facing / frontend), in addition to the automation and adoption of digital data, tools and procedures in core government functions (back-end), it added.
Source: State Information Service Egypt