Deputy Minister of Planning probes ways of boosting partnership with Visa in digitization

Dr. Ahmed Kamali, Deputy Minister of Planning and Economic Development, met with a delegation from Visa Inc. headed by Wayne Best - Chief Economist - Visa Inc. to discuss strengthening partnerships with the Egyptian government in the process of digitization and digital payments.

Dr. Ahmed Kamali stressed that the meeting came within the framework of the ministry's keenness to enrich and strengthen economic cooperation relations with international companies operating in Egypt.

During the meeting, the dialogue touched on inflation rates, where Dr. Ahmed Kamali explained that the high inflation rates in Egypt are similar to what is happening in the world due to the geopolitical crises and epidemics that the world has passed through during the last period.

Concerning data, Kamali explained that the Central Agency for Public Mobilization and Statistics (CAPMAS) specializes in collecting statistics and data in Egypt and that the ministry issues national accounts data through a specialized unit that includes a group of experts, which assists policymakers.

Kamali added that the Ministry of Planning and Economic Development is concerned with providing macroeconomic indicators quarterly through data and statistics, adding that the ministry relies on facts and data in making impact-based policies.

Kamali said the government is interested in attaining financial inclusion and integrating the unofficial economy into official frameworks, in addition to promoting financial IT technologies and digital cards.

“We look forward to partnering with the Egyptian government on its journey of digitization to help unlock the full potential of digital payments.” Said Wayne Best - Chief Economist - Visa Inc. “Digital payments are key to achieving financial inclusion and driving economic growth, by providing access to traditionally difficult services.” He added.