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00:00 "In fact, freeing the exchange rate is a protection for the Egyptian economy from external shocks.
00:07 There are successive external shocks.
00:09 For this reason, this gives confidence in the economy and we saw how it strengthened investment opportunities and money transfers.
00:18 It is necessary to continue and strengthen this trust.
00:23 This trust is strengthened not only by the exchange rate policy, but also by other economic policies.
00:29 The first and second reviews are also based on other policies.
00:33 The problem of inflation, which is a reflection of the stability of the economy,
00:38 and also a big reflection on the social situation and the management of the economy.
00:43 The problem of the problem, which today must be solved quickly, is the weakness of growth.
00:49 This weak growth must be worked on to accelerate and increase the size of the economy.
00:54 This is a big role for the private sector and there is a responsibility on the public sector.
00:59 The responsibility of the public sector is to re-engineer its role to be a supporter, not a competitor.
01:05 These are the elements that the first and second reviews are based on.
01:09 The next stage is to continue to take advantage of this opportunity.
01:13 There is an opportunity, due to the support provided by the fund and other institutions such as the International Bank and the European Union,
01:21 to accelerate the recovery and to protect the Egyptian economy from any additional shocks.
01:27 Especially since the region was at a stage where it was unable to oversee the future due to the size of the shocks that the region is experiencing.
01:40 Regarding the Saudi economy, we always do not know that the effects of oil prices are positive on the Saudi economy,
01:48 on the Saudi budget, and on the oil sector.
01:52 Today, oil prices are high, but OPEC+ continues to lower production levels until the end of June.
02:01 How does this reflect your expectations for the Saudi economy this year?
02:06 You are asking me two important and different questions.
02:09 The first is what are the developments in the oil and gas sector and its impact on the Saudi economy.
02:15 Let's start with the second point.
02:18 In the past, this year, and the years to come, the Saudi economy has seen a rapid growth in the non-oil sector.
02:25 This is an important element.
02:27 It is based on the reforms that have been implemented, as well as on the measures that have expanded the size of the economy and on investment.
02:34 Continuity is essential and necessary because it serves not only the economy as a whole, but also creates a large number of job opportunities for Saudi youth.
02:45 The second element is the management of the oil sector.
02:48 The extension of the OPEC+ agreement had a stable and sometimes high impact on prices,
02:55 but it had a weak export ability because the supply of oil to the export process decreased.
03:06 For this reason, the economic expectations of the Gulf countries for this year were reviewed in a positive way due to the extension of the OPEC+ agreement.
03:16 Today, if we look at the oil market, we find that there is a kind of balance between supply and demand, in addition to the existing safeguards, which are important in the event of shocks.
03:28 There is an increase in the levels of risk that are affecting the prices, but the scope of the oil and gas market has not changed, and there are still risks.
03:39 The expansion of the conflict in the region and its impact on oil transportation sources may have a negative impact.
03:48 For this reason, what are the recommendations?
03:50 The first recommendation is to continue to rely more and more on the non-oil sector, which creates job opportunities and creates stable flows.
03:57 The second recommendation is to continue to rely on the marine sector, which is conservative in terms of savings and safeguards.