The assistant to the Prime Minister and Head of the Information and Decision Support Center at the Egyptian Cabinet (IDSC), Osama al-Gohary, revealed details regarding “The Document on the Most Important Strategic Directions of the Egyptian Economy for the New Presidential Period (2024-2030)”.
During a telephone interview with TV host Lamis al-Hadidi on “Last Word” (Kalema Akhera) TV show on Sunday evening, Gohary said that the document outlines and determines policies for the Egyptian economy until 2030.
This document is an important research project prepared over a period of six months, he explained, and commissioned by the Cabinet based on solid studies prepared by IDSC – in addition to government studies and targets for a number of ministries and international reports issued by international institutions on the Egyptian economy.
Gohary explained that a massive research initiative was prepared in early 2023 on scenarios for the Egyptian economy and organized over the course of 19 workshops featuring 400 experts.
US dollar exchange rate during 2024-2028
The US dollar exchange rate was mentioned in the document at LE36.83 to one dollar during the period 2024-2028.
Gohary explained that the document did not mention that Egypt was targeting a specific exchange rate.
The exchange rate number mentioned in the document came according to an IMF report on the Egyptian economy in October.
Gohary continued: “I am presenting the context and what the international reports say, but we did not say that the government is targeting this price. When the IMF lowers this estimate, we must know that it begins to look at the balance of current transactions and sets targets that it links to this price, and therefore what was reported is a quote from the IMF.”