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Egypt asserts the necessity of constructing a new global framework


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Egyptian Finance Minister Dr. Mohamed Maait confirmed that the time has come to build a global economic system that is more resilient and capable of a green recovery.

He explained that “the goal is to avoid shocks to health, the economy and the environment, especially in light of successive global crises that have exacerbated financial pressure on emerging economies as the war in Europe led to an unprecedented wave of inflation that was reflected in rising prices of goods and services, as well as in rising costs of bridging the gap. funding from international markets at a time when the need for huge budgets to positively address climate change is increasing.

Maite said during a meeting with the Climate Change Alliance of Finance Ministers on the sidelines of the International Monetary Fund and World Bank meetings in Washington: “We look forward to providing stimulus funds for sustainable development in developing and African countries, led by the private sector as the engine of economic development which can effectively contribute to improving the lives of citizens and improving the quality of services provided.” And give them more job opportunities, bearing in mind that what we do not implement today … … will be a burden and a huge cost in the future.”

Source: Al-Shoruk

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