• August 12, 2012
  • 2 minutes read

Economy Expert: Qatari Grant Speeds Recovery of National Economy

Economy Expert: Qatari Grant Speeds Recovery of National Economy

Dr. Hamdi Abdel-Azim, Professor of Economics at the Sadat Academy, affirmed that the visit to Egypt by the Emir of Qatar Sheikh Hamad bin Khalifa al-Thani bolsters efforts to implement Nahda (Renaissance) Project embraced by President Mohamed Morsi for comprehensive and real rejuvenation of Egypt.

He added that the visit will certainly help revive the Egyptian economy, activate political cooperation between the two countries, and reconcile Egyptian and Qatari views on Arab world issues.

The economy professor further affirmed that Qatar’s grant to Egypt of two billion US Dollars, deposited in the Central Bank of Egypt, is certainly a positive step that will help finance small and technological projects – something which is especially important with the current challenges the Egyptian economy is facing.

"This grant is primarily designed to establish a good political relationship, and to start a new page in all kinds of other bilateral relations between Egypt and Qatar. And certainly, President Morsi will not accept anything detrimental to the interests of Egypt."