Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization
The Egyptian economy continues to show resilience through the COVID-19 pandemic, due to the macroeconomic and energy sector reforms implemented in recent years, along with measures to ease monetary conditions, provide selected sectoral support and...
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/754121644245654929/Egypt-Economic-Monitor-December-2021-The-Far-Reaching-Impact-of-Government-Digitalization http://hdl.handle.net/10986/36995 |
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okr-10986-369952022-02-17T05:10:37Z Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization World Bank ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EMPLOYMENT PUBLIC FINANCE ECONOMIC OUTLOOK E-GOVERNMENT DIGITAL TRANSFORMATION DIGITAL ECONOMY The Egyptian economy continues to show resilience through the COVID-19 pandemic, due to the macroeconomic and energy sector reforms implemented in recent years, along with measures to ease monetary conditions, provide selected sectoral support and mobilize external financing. Real GDP growth and foreign income activities started recovering since Q4-FY2020/21. However, global COVID-related challenges and an uneven recovery across the world continue to restrain the rebound. Foreign reserves remain ample, but the widened current account deficit has increased financing requirements. Fiscal consolidation has helped bring down the budget deficit-to-GDP ratio. Yet, fiscal space remains constrained by the interest burden and below-potential revenue-mobilization. Egypt is expected to resume pre-pandemic growth in FY2021/22 as the COVID-situation gradually improves. Further advancement of structural reforms is critical to sustain the recovery, drive productivity growth and generate high-earning job opportunities. The Focus Chapter in this report is dedicated to the topic of government digitalization; a key priority of the country’s national structural reform program. Egypt is currently at a relatively elevated level of government digitalization, according to international indices such as the United Nations E-Government Development Index, as well as the newly constructed World Bank GovTech Maturity Index. For the recent digitalization efforts to realize their potential and further enhance governance and public service delivery, continued reforms require focus on: (1) The roll-out of ‘end-to-end’ digital solutions (whereby digital transformation occurs in every step throughout a given governmental process), ensuring the integration and inter-connectedness (inter-operability) of related government systems, (2) Complementing digital transformation with a continued simplification and streamlining of government processes. (3) Strengthening the foundations of the “Digital Economy” in Egypt is crucial to effectively leverage technologies for a more efficient government, and for large-scale uptake by individuals and businesses. This will require (3-a) Continuous investments in digital infrastructure across the country to ensure uninterrupted availability of essential digital government services and universal access to high quality internet, (3-b) Promotion of digital skills, (3-c) Incentivizing use of digital financial services, and (3-d) Ensuring an overall conducive legal and regulatory framework for the digital transformation of the economy. 2022-02-16T22:55:52Z 2022-02-16T22:55:52Z 2021-12 Report http://documents.worldbank.org/curated/en/754121644245654929/Egypt-Economic-Monitor-December-2021-The-Far-Reaching-Impact-of-Government-Digitalization http://hdl.handle.net/10986/36995 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Middle East and North Africa Egypt, Arab Republic of |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EMPLOYMENT PUBLIC FINANCE ECONOMIC OUTLOOK E-GOVERNMENT DIGITAL TRANSFORMATION DIGITAL ECONOMY |
| spellingShingle |
ECONOMIC GROWTH MONETARY POLICY FISCAL TRENDS EMPLOYMENT PUBLIC FINANCE ECONOMIC OUTLOOK E-GOVERNMENT DIGITAL TRANSFORMATION DIGITAL ECONOMY World Bank Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| geographic_facet |
Middle East and North Africa Egypt, Arab Republic of |
| description |
The Egyptian economy continues to
show resilience through the COVID-19 pandemic, due to the
macroeconomic and energy sector reforms implemented in
recent years, along with measures to ease monetary
conditions, provide selected sectoral support and mobilize
external financing. Real GDP growth and foreign income
activities started recovering since Q4-FY2020/21. However,
global COVID-related challenges and an uneven recovery
across the world continue to restrain the rebound. Foreign
reserves remain ample, but the widened current account
deficit has increased financing requirements. Fiscal
consolidation has helped bring down the budget
deficit-to-GDP ratio. Yet, fiscal space remains constrained
by the interest burden and below-potential
revenue-mobilization. Egypt is expected to resume
pre-pandemic growth in FY2021/22 as the COVID-situation
gradually improves. Further advancement of structural
reforms is critical to sustain the recovery, drive
productivity growth and generate high-earning job
opportunities. The Focus Chapter in this report is dedicated
to the topic of government digitalization; a key priority of
the country’s national structural reform program. Egypt is
currently at a relatively elevated level of government
digitalization, according to international indices such as
the United Nations E-Government Development Index, as well
as the newly constructed World Bank GovTech Maturity Index.
For the recent digitalization efforts to realize their
potential and further enhance governance and public service
delivery, continued reforms require focus on: (1) The
roll-out of ‘end-to-end’ digital solutions (whereby digital
transformation occurs in every step throughout a given
governmental process), ensuring the integration and
inter-connectedness (inter-operability) of related
government systems, (2) Complementing digital transformation
with a continued simplification and streamlining of
government processes. (3) Strengthening the foundations of
the “Digital Economy” in Egypt is crucial to effectively
leverage technologies for a more efficient government, and
for large-scale uptake by individuals and businesses. This
will require (3-a) Continuous investments in digital
infrastructure across the country to ensure uninterrupted
availability of essential digital government services and
universal access to high quality internet, (3-b) Promotion
of digital skills, (3-c) Incentivizing use of digital
financial services, and (3-d) Ensuring an overall conducive
legal and regulatory framework for the digital
transformation of the economy. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| title_short |
Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| title_full |
Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| title_fullStr |
Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| title_full_unstemmed |
Egypt Economic Monitor, December 2021 : The Far-Reaching Impact of Government Digitalization |
| title_sort |
egypt economic monitor, december 2021 : the far-reaching impact of government digitalization |
| publisher |
World Bank, Washington, DC |
| publishDate |
2022 |
| url |
http://documents.worldbank.org/curated/en/754121644245654929/Egypt-Economic-Monitor-December-2021-The-Far-Reaching-Impact-of-Government-Digitalization http://hdl.handle.net/10986/36995 |
| _version_ |
1764486319915925504 |