Mastercard Unveils AI-Powered Card Fraud Prevention Service in EEMEA Region, Starting from Egypt    Egypt, Russia's Rosatom review grid readiness for El-Dabaa nuclear plant    In call with Zelenskyy, Sisi reiterates diplomatic end to Russia-Ukraine War, Mideast De-escalation    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    China's factory output expands in June '25    Egyptian pound climbs against dollar at Wednesday's close    New accords on trade, security strengthen Egypt-Oman Relations    Egypt launches public-private partnership to curb c-sections, improve maternal, child health    Gaza under Israeli siege as death toll mounts, famine looms    EMRA, Elsewedy sign partnership to explore, develop phosphate reserves in Sebaiya    Philip Morris Misr announces new price list effective 1 July    Egypt Post discusses enhanced cooperation with Ivorian counterpart    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt in diplomatic push for Gaza truce, Iran-Israel de-escalation    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt, Tunisia discuss boosting healthcare cooperation        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



On a stronger footing
Published in Al-Ahram Weekly on 30 - 05 - 2019

While Egyptian Muslims were about to celebrate the first day of Eid Al-Fitr, the feast following the holy fasting month of Ramadan, terrorists in Sinai launched yet another cowardly attack against a police checkpoint on 5 June, killing an officer and seven soldiers. Egyptians mourned the young martyrs who bravely fought against the terrorists, killing five on the spot; however, the attack did not shake their confidence that the country is on the right track in terms of winning the war against terrorism and reforming the economy.
Only a few weeks before the latest terrorist Sinai attack, President Abdel-Fattah Al-Sisi inaugurated four tunnels in Ismailia and Port Said, and a number of floating bridges, which will ease crossing to and from Sinai. This ambitious project is confirmation of the state's intent to develop that dear part of the country, linking it to the mainland. It also reflects the conviction that development and fighting terrorist groups, who pose a serious threat to the region and the world, must go hand-in-hand. Hardly a few hours after the attack against the police checkpoint took place, security forces managed to spot the hideout of the criminals, and killed 14 terrorists. Another 12 terrorists were located in the following two days and shot dead in exchanges of fire with police.
Meanwhile, there is no question that Comprehensive Operation Sinai that the Egyptian Armed Forces launched against terrorist groups more than a year ago led to a sizable decline in terrorist activities and in the number of attacks. The year 2018 witnessed the lowest number of attacks over the past five years. Only eight attacks took place in 2018, compared to 50 in 2017, 199 in 2016 and 222 in 2014.
This is proof that the military operation has been achieving its goals, and has managed to significantly diminish the capabilities of terrorist groups, such as the Islamic State in Sinai, which claimed responsibility for the 5 June attack. While those aiming to harm Egypt's interests thrive whenever a terrorist attack takes place, Egypt's army and police force remain confident that they are on the right track, supported by Egyptians who recognise that the battle against terrorist will not come to an end overnight.
Protecting the lives and properties of Sinai residents is a prime concern for security forces while fighting against terrorist groups, and that's why Egyptians understand that this battle needs time and sacrifices. Nothing is more precious than the lives of Egyptians residing in Sinai, along with the brave army and police officers and soldiers who are standing on the line of fire.
While fighting terrorism will certainly remain an uphill battle, so is the sincere effort exerted over the past five years to reform the economy, with the main aim of alleviating poverty, creating jobs for the country's youth and providing better living conditions for Egyptians.
Egypt's economy grew by 2.1 per cent during 2011-2013, a rate that fell short of the population growth rate. In 2018-19, Egypt's growth rate reached 5.6 per cent, according to the latest Ministry of Planning figures as well as updated International Monetary Fund (IMF) estimates. This makes Egypt one of the strongest and highest growth performers in the region and across emerging countries. Such solid growth performance was cited by all rating agencies like Moody's and Standard & Poor's as well as international institutions such as the World Bank, African Development Bank and the IMF.
According to Egypt's official statistical body CAPMAS, unemployment averaged 12.7 per cent in 2011-2013 before declining steadily over the past four years to reach a low of 8.1 per cent in March 2019. Creating more jobs for the youth and the Egyptian people stands as the most important benchmark of whether the current growth strategy is benefiting wider segments of the population or not.
Central Bank of Egypt figures show that net foreign currency reserves stand today at $44 billion (allowing Egypt to have a buffer that can finance Egypt's imports bill for more than 8.5 months) versus $14.9 billion in June 2013. This occurred as Egypt's current account deficit (the sum of Egypt's trade balance of goods and services plus money transferred back home by Egyptians living abroad) declined from a peak of almost five per cent of GDP in 2012/2013 to almost 2.5 per cent of GDP in 2018/2019.
To conclude, Egypt's economic performance and fundamentals have been significantly improving due to adopted reforms and polices, making the economy stand on a stronger footing relative to where it was in 2013. This economic turnaround story is one to which all Egyptians contributed, and so all Egyptians should get credit for it.


Clic here to read the story from its source.