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00:00 "The report of the first and second reviews of the program "Egypt with the International
00:09 Monetary Fund" revealed detailed recommendations, warnings and information.
00:12 The report, which estimated the financial gap for Egypt at about 28 billion and half billion
00:16 dollars for the next three years, estimated the amount of assets of foreign oil companies
00:20 operating in the country between 4 and 5 billion dollars.
00:25 The report also estimated that Egypt will receive about 14 billion dollars from the
00:30 capital deal in the coming days, and that 12 billion dollars from the funds of this
00:34 deal will be allocated for the sake of lowering the government debt.
00:38 The Egyptian government also confirmed its commitment to the treatment of the refugee
00:42 refugee to withdrawing funds from the Central Bank and the activities of the public sector
00:46 outside the balance sheet.
00:47 "We see the financial gap.
00:48 The Egyptian government has the role of covering the financial gap.
00:49 It is about 10 billion dollars a year.
00:50 We can increase this by 10 billion dollars.
00:51 We can increase this by 12 billion dollars or 20 billion dollars as the government's
00:55 targeted plan.
00:56 Or we can increase the non-oil exports from 35 billion dollars to 50 billion dollars.
01:00 The second thing we see is that the International Monetary Fund was dealing with its competition
01:05 very seriously, and this is through commitment to the financial gap and attracting direct
01:09 investment.
01:10 What we saw in the competition to attract direct investment was not only the fact that the
01:15 competition was very serious, but also the fact that the competition was very serious
01:22 and that it was based on transparency and governance."
01:25 According to the proposal, the report expects to complete the two deals of the oil and saffron
01:29 mountains during the next financial year.
01:31 In total, the two deals amount to about 640 million dollars.
01:34 The government also expects to continue implementing the program, where it aims to sell four assets
01:39 in the energy and manufacturing sectors for about 300 million dollars.
01:42 "The Egyptian government must take advantage of the time when the world is looking at us
01:48 and the great gap that is occurring in the relationship between the dollar and the pound,
01:54 and most of the investors, whether from the Gulf region or European and American countries,
02:00 are looking at the Egyptian economy.
02:02 It is a great opportunity for us to accelerate the growth of the oil and saffron sector,
02:08 and to accelerate the flow of government investments to introduce new products into the Egyptian
02:14 market, and to expand the ownership of the oil and saffron sector to Egyptians and foreigners,
02:20 which is a difficult deal to implement."
02:23 The report also emphasized the importance of slowing the flow of public investment,
02:28 and the importance of implementing the state's ownership policy documents, as well as continuing
02:33 to increase growth rates by about 5% in the Middle East.
02:38 "This report reveals the financial, fiscal and structural reforms that have been implemented
02:45 in Egypt in the agreement with the IMF.
02:49 At the same time, I am sure that the Egyptian government's commitment to the soldiers of
02:54 this agreement, especially the reduction of public debt, the continuation of the policy of
02:59 the oil and saffron sector, and the expansion of the sector in a larger way in the face of
03:04 the private sector, will facilitate the transition to the Arab CNBC.