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It is recommended to address the annual budget deficit in the Arab countries



The annual conference of the Union of Arab Banks recommended the adoption of partnerships between the public and private sectors for the development of infrastructure in the Arab region. And to address the annual deficit of the Arab countries through rationalization of public spending and it is appropriate to adopt the method of allocating budgets to government ministries and departments based on the expectations of the public administrations so that the ministries act within the allocated amounts and request sources of long term external debt and low cost and reduce reliance on loans Conditionality, which has negative economic effects on the economies of the Arab countries.

The Secretary-General of the Union, Wissam Hassan Fattouh, announced the decision of the Federation's Governing Council to grant the Governor of the Bank of Lebanon Riad Salama the "Governor of 2019" award.

The conference called for clear and long-term strategies for public debt to address all the repercussions of increased public debt, including establishing clear scientific bases and practices for domestic and foreign borrowing in terms of size and countries that can be borrowed . An exception, and also includes a clear roadmap for reducing public debt within a specified period of time.

He called for stimulating economic growth in Arab countries and increased foreign investment

Direct. And finance government capital projects through innovative financing methods that do not carry any government debt, such as construction methods – operation – lease – conversion. And unleash the potential of Arab youth to drive growth in the Arab economies. He highlighted the need to develop institutional structures and institutions and public policies in the Arab countries to transform the process of reconstruction.

The annual Arab Banking Conference was held from 23 to 25 April in Beirut, Lebanon, under the patronage and presence of Prime Minister Saad Hariri and the participation of the Governor of the Bank of Lebanon, Riyad Salama, entitled "Reforms and Economic Governance" in cooperation with the Banque du Liban and the Association of Banks in Lebanon. (The Board of Directors and the General Assembly), with the participation of more than 400 economic, financial, banking, Lebanese and Arab and foreign personalities, including Finance and Economy Ministers, Governors and Central Banks, and Heads of Banks and Financial Institutions.

On the sidelines of the conference was held in the Lebanese capital Beirut elections of the Board of Directors of the Union of Arab Banks New 2019-2022, was

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Egypt was elected as the only country to be represented by two members of the Board of Directors of the Federation Mohammed Al-Atrabi was elected Vice Chairman of the Board of Directors of the Union of Arab Banks representing Egypt Tarek Fayed is a member of the Board of Directors of the Union of Arab Banks. Union of Arab Banks.

The Union of Arab Banks was established on March 13, 1973 following a meeting of elite Arab banking and managerial leaders under the aegis of the Arab Organization for Administrative Development to establish a regional Arab organ / organization operating within the confederations of the League of Arab States Arab States. The Union works to strengthen Arab banking cooperation, develop Arab financial work and increase the role of Arab financial banks in the Arab region. The aim is to strengthen ties and strengthen cooperation between Arab banks and to highlight their Arab entity to achieve their common interests, to develop banks and finance in Arab countries and to increase the effectiveness of the role played by Arab banks and financial institutions in promoting economic and Social.

The Federation is based in Beirut, the capital of the Republic of Lebanon, with foreign offices in several Arab countries, especially Egypt, Sudan and Jordan, and a network of strategic relations with the main banking and financial institutions of other Arab countries. These countries.

It has over 320 institutions, including leading Arab financial and banking institutions.


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