·  Meeting is to review the Egyptian experience and procedures to reduce the effects of the financial crisis

Started in Cairo on Thursday the third round of the Egyptian-European economic dialogue he...

·  Meeting is to review the Egyptian experience and procedures to reduce the effects of the financial crisis Started in Cairo on Thursday the third round of the Egyptian-European economic dialogue headed by Mr. Hany kadry, Assistant Minister of Finance on behalf of the Egyptian and Antonio de Asia General Director of the Department of Economic Affairs and Finance on behalf of the International Union. Participated in meetings on the Egyptian side, a group of senior officials from the Foreign and Investment ministries and the Central Bank of Egypt and the European officials of the European Commission representatives and a number of European embassies in Cairo.   Mr. Hany kadry Assistant of the Minister of Finance discussed economic developments in Egypt and the European Union and the impact of the global financial crisis on the economies of the various European countries have also been introduced fiscal and monetary policies pursued by both Egypt and the European Union to address the effects of global crisis, especially its social impact will extend until the end of the crisis itself and the growth rates and unemployment rates return back to its previous rates.   He emphasised that the Egyptian economy is expected to witness a slowdown in growth rates to be between 3% to 4% in the current fiscal year while the economy of the ones likely to achieve a contraction of more than 4% in the year 2009 based on the vulnerability of the financial sector of the Group of States euro with the financial crisis. (Source: Ministry of Finance)