Egypt’s economy showed high resilience during COVID-19 crisis: EU Ambassador

Ambassador and Head of the European Union Delegation to Egypt Christian Berger, said that Egypt’s economy showed high resilience during COVID-19 crisis.

During his speech at the BT 100 ceremony, Tuesday Berger explained that Egypt has successfully maintained macroeconomic and financial stability while safeguarding those who need it. He further called on the government to support small businesses to export.

Head of EU delegation to Egypt noted that EU is Egypt’s first partner representing 25 percent of the state’s total trade.

“Egypt has a huge potential to spearhead digital transformation in the region,” Berger said, adding that the EU is ready to back Egypt in the energy sector.

Berger said that world trade is down by 20 percent due to the pandemic. However as ‘Financing research and supporting pharmaceutical industry to produce vaccine was a must. Now, [supporting] recovery [is a must].”

He stated that the crisis raised the unemployment rate globally and that the EU allocate $4 trillion for a recovery program, Berger