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UN’s Secretary General Praises Egypt for its Economic Strategies

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Antonio Guterres

Since the very beginning of the novel virus we have all grown to know quite well, Egypt has been praised for its exquisite ways of handling things in rough times like these.

We have been praised by foreigners, Egyptian nationals, and countries such as Libya, USA, Italy, and much more for the efforts that have been put into saving our beloved country as well as lending a helping hand to others.

We are proud to announce that Antonio Guterres, the Secretary General of UN,  has also praised Egypt for its smart tactics of tackling the coronavirus. Egypt hasn’t been praised for that point alone, but has also been admired for how they have been handling its economy.

The coronavirus has completely destroyed many economies worldwide, which is why Egypt is known and praised for still being economically stable in these hard times. This is because President Abdel Fatah el Sisi was well ahead of the conflict and has ordered specific measures to be taken since March 22nd.

Starting things early and being well ahead of matters is the smartest strategy one could decide on doing because if you start fixing or maybe even preventing a problem from early on, the chances of maintaining stability is quite high.

“Egypt has reduced taxation for industries and postponed taxation on agricultural land, and has expanded its social safety net program,” the Secretary-General said in a virtual meeting with leaders of the African Group members on Wednesday.

The measures that have been taken were decisions such as pensions, agricultural land taxes, and even bonuses. It was surely decided that 5 bonuses will be granted for pensioners by a percentage of 80 from the basic wage. Also, an annual bonus will be given to pensioners by 14%.

From procuring test kits to promoting debt relief, the UN will stand in solidarity with Africa as it braces against the unprecedented economic, social and health impacts of the COVID-19 pandemic,” stated Antonio.

Antonio had also called on all African countries to unite and unify their efforts as well in hopes of stopping and maintaining the coronavirus on a global level. He claims that the virus is no way Africa’s fault but rather a climate crisis. Unfortunately for us, the continent of Africa could be the ones to suffer the most.

The United Nations will continue to advocate for debt relief for Africa, including non-IDA -World Bank International Development Association- countries who cannot service their debt. Debt relief from non-Paris Club official creditors and London Club commercial creditors should also be part of the consideration.”

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Egypt Jumps Ten Places in ‘Global Knowledge Index’ in Only One Year

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Egypt has jumped 10 places in just a year in the 2020 Global Knowledge Index (GKI), according to three infographics released by the Egyptian Cabinet’s Information and Decision Support Center.

The index, which gets issued every year by the United Nations Development Programme and the Mohammed bin Rashid Al Maktoum Knowledge Foundation, shows that Egypt has moved from the 82nd place to the 72nd in only one year.

The rankings are based on a survey done on the knowledge performance of 138 countries in 7 areas and 199 indicators. Egypt has shown great advancement in all areas, it moves 23 ranks up in the area of Technical and Vocational Education and Training and 11 ranks up in Pre-University Education.

The index also highlighted Egypt’s points of strength in education sector, which included higher enrollment in universities and a significant decline in out-of-school children. There’s also an increase in the number of students enrolling in vocational and technical schools.

Switzerland, the United States, and Finland came on top of the 2020 index.

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Egypt Set to Build Its First Train Factory in Port Said

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Egypt’s Ministry of Planning and Economic Development has announced that Egypt is planning on building its very first train factory in Port Said.

The factory will build EMUs, DMUs and monorail trains in East Port Said industrial zone.

The Ministry made the announcement on the 16th of September in a meeting attended between the minister of planning and economic development, Dr Hala El-Said, transport minister Major General Kamel El-Wazir and chairman of the Suez Canal Economic Zone Authority, Mr Yahia Zaki.

The meeting went over the project’s implementation plan and the possible outputs of the factory.

Egyptian Railways Services and Maintenance Company (Ermas) will most probably run the new plant in cooperation with the private sector including a number of international companies, such as the Suez Canal Economic Zone, and Egypt’s Sovereign Fund.

According to El-Waziri, the factory is seen as part of a localizing initiative that aims at producing railway equipment locally, in order to meet the rising demand both domestically and in Africa and on the Arabian peninsula.

The factory will help boost the Egyptian economy, in addition to generating hard currency and providing job opportunities.

 

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AstraZeneca COVID-19 vaccine Shows 90% Effectiveness With No Serious Side Effects

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AstraZeneca announced today the effectiveness of its Covid-19 vaccine and it turned out to be around 90% effective with no serious side effects!

According to data from the late-stage trials in Britain and Brazil, the vaccine, which is developed by Oxford University, has shown 90% effectiveness after being administered as a a half dose followed by a full dose at least one month apart.

“This vaccine’s efficacy and safety confirm that it will be highly effective against COVID-19 and will have an immediate impact on this public health emergency,” Pascal Soriot, Astra’s chief executive, said in a statement.

British Prime minister Boris Johnson said it was “incredibly exciting news the Oxford vaccine has proved so effective in trials.”

The next step now is for the company to start preparing regulatory submission of the data to authorities across the world that have a framework in place for conditional or early approval.

It will also seek an emergency use listing from the World Health Organization (WHO) to speed up availability in countries with low income. In parallel, the full analysis of the interim results is being submitted for publication in a peer-reviewed journal.

With both Oxford’s and Pfizer’s vaccines, we can be hopeful that the new year will come bearing good news!

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