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The United Nations Predicts that Egypt Will Have A Full Economic Recovery from Coronavirus by 2021

The economic crisis due to Coronavirus is only a short-term crisis according to the Director of the North Africa Office of the United Nations Economic Commission for Africa.

Staff Writer

The United Nations Predicts that Egypt Will Have A Full Economic Recovery from Coronavirus by 2021

The Director of the North Africa Office of the United Nations Economic Commission for Africa, Khaled Hussein, predicted that the economic impact of the Coronavirus pandemic is a short term crisis as he expects the local economy to have a robust recovery in 2021.

 

Hussein believes that Egypt’s efforts in the past years, which include grossing the highest growth rates in North Africa, have allowed for the creation of a solid infrastructure that makes space for quick recovery after everything Corona-related is said and done.

 

The United Nations director commended the measures taken by the state in order to battle the crisis, including EGP 100 billion for treating Coronavirus cases, funnelling EGP 3.8 billion into the healthcare sector, EGP 10 billion into buying wheat, and EGP 12.7 billion to secure basic commodities, in addition to reducing gas and electricity prices.

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