During a meeting with African finance ministers at the World Bank and IMF Spring Meetings, Minister of Finance Mohamed Maait pointed to Egypt’s support in strengthening comprehensive health insurance and healthcare systems for African nations.

He highlighted the challenges faced by African countries due to international tensions, resulting in a decline in public health conditions and increased inflation, leading to higher prices for essential goods and services.

Minister Maait emphasized the importance of international financial institutions in providing sustainable funding to developing economies.

This financial support would not only enhance healthcare services in African nations but also help mitigate the adverse effects of climate change and facilitate a transition towards a green economy.

Furthermore, Maait expressed Egypt’s willingness to share its experience in comprehensive health insurance with other African countries, intending to boost the private sector’s involvement in this field.

In recent statements, Minister Maait reaffirmed Egypt’s strong support for the private sector, aiming to make it the driving force behind the Egyptian economy, occupying a significant share of the market, estimated at 65 to 70 percent.

Egypt is currently focused on increasing local production and exports, with the government allocating LE 1 trillion for public investments in the next fiscal year. This move aims to create space for the private sector to grow and contribute to economic expansion, ultimately generating one million job opportunities annually as part of the government’s offerings program.