(MENAFN- Qatar News Agency) Ndon may 16 (qna) - egyptian minister of finance hani kadri said friday that the egyptian economy has the potential to recover adding that the egyptian economy has all the requirements to become one of the highest growing economies in the world in the coming years.
the minister revealed that the egyptian administration has plans to increase growth levels towards the 6-7% region in the future. he added that the current low growth levels of 2% are a hiccup resulting from political instability egypt has seen during the past few years.
the minister was speaking at a conference moderated by director of emerging markets for euro money conferences richard banks and held at the london stock exchange.
he said that egypt has planned a number of large ambitious projects that will revitalize the economy revealing that these projects will be in different sectors whether in infra-structure transport energy telecommunication tourism or even developing the suez canal.
kadri said that the egyptian administration will not depend on aid to execute these projects but will rather focus on attracting foreign investment and amending some of the legislations in order to attract foreign investment to the lucrative opportunities available.
he said that he has already discussed amending the taxation system and will be inviting heads of international corporations to visit and see the steps the egyptian government has taken in that regard. (qna)
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