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President El-Sisi: Social protection measures to reduce the effects of global waves of inflation

He said President Abdel Fattah El-SisiThe Ukrainian-Russian war is approaching its first year, and it is the war that crowded out the Corona epidemic in its negative effects on the global economy and multiplied them. No one escaped from these effects, and the global economies suffered great suffering that caused negative repercussions on all countries of the world.

During his speech at the inauguration of a number of development projects in Sohag, President El-Sisi added: “In Egypt, we have faced and are still facing these repercussions with steadfastness and strength, benefiting from the steps of economic reform that we embarked on, and their effects were reflected in our capabilities in facing that global crisis..and the philosophy of dealing with this crisis was Based primarily on making efforts to reduce its direct effects on the citizen through implementing an integrated series of social protection measures and working to reduce the effects of the waves of inflation that struck the world and cast a shadow over them all. In parallel with these measures, the state has worked to strengthen the role of the private sector and attract direct investments to support Macroeconomic indicators and the implementation of the initiatives and strategy to localize the industry, support exports, and reduce the balance of the trade deficit, which is directly reflected in the value of the annual import bill.

The President continued: “I assure with all sincerity and impartiality that despite all the difficulties, we will go together, not only to overcome the crisis, but to create a brilliant future, God willing, befitting our sacrifices, and we are proud of it as we present it to our children and grandchildren.”

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