On the sidelines of his speech at the Euromoney Conference in Cairo—attended by numerous international delegations, Prime Minister Ahmed Nazif, and both local and international media—Investment Minister Mahmoud Mohieldin outlined the strengths of Egypt’s economy amid the global crisis. He highlighted the country’s favourable economic climate for attracting foreign investment and maintaining growth rates that are expected to exceed initial targets. Mohieldin stated that the government intends to focus more on developing the country’s lower-income segments through a ‘trickle-down’ economic policy.
Responding to this announcement—which contradicts the well-documented failure of this approach in other developing nations—I asked the minister to elaborate on the government’s strategy for implementing ‘trickle-down economics’. In theory, this policy suggests that the economic benefits gained by major investors will eventually filter down to smaller businesses and lower-income consumers.
Mohieldin explained that this would be achieved by channelling the benefits of economic growth to citizens through increased investment in infrastructure projects, the expansion of the labour market, job creation, and ensuring fair competition for small investors.
He also stressed the link between this policy and the government’s new Public-Private Partnership (PPP) plan for infrastructure investment. A significant portion of these projects, he noted, will be directed towards the governorates, aligning with the government’s commitment to economic decentralisation and the provision of improved public services.
This article is originally published by AlBorsa in Arabic and later AI-translated by South Push.