Egyptian Minister of Petroleum, Tarek El Molla, met with members of the Middle East Institute during his visit to the US to attend the CERAWeek, Egypt Oil & Gas reports.
The meeting was attended by head of US oil companies and organized by US Chamber of Commerce, the Egypt-US Business Council and the American Chamber of Commerce in Egypt.
The Egyptian government adapted a reform program to maintain economic balance and growth and to provide work opportunities, El Molla said in his speech, adding that Egypt’s foreign currency reserves reached around $44 billion by the end of February, recording the highest amount in the Egyptian history.
The country’s economic growth rate grew from 2% to 5.4% by the end of February, El Molla pointed out, adding that the foreign currency flow recorded $163.5 billion during the past four years.
Aiming for more growth, Egypt adopted Vision 2030 in order to reach a competitive variant economy that depends on innovation and knowledge, and is built on social justice.