Covid-19

COVID-19 has plunged the global economy into crisis. Green fiscal policies (GFP) can play a key role in shaping the recovery. As governments are devising green fiscal stimulus policies, they must look to maximize short-term growth and employment effects, but they have also a lever in hand to steer economies to a green and fair transition. The collapse of the oil price has created a window of opportunity for carbon taxes and fossil fuel subsidy reform to mobilise revenue and drive low-carbon development. Green budgeting can rationalise inefficient expenditures and align spending with sustainability. In developing countries with limited fiscal space, GFP can be part of a sustainable solution.

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Egypt President Calls on International Community to Support Global Green Recovery

Speaking on the first day of the inaugural Egypt International Cooperation Forum (Egypt – ICF), launched by the Ministry of International Cooperation, taking place in Cairo between 8-9 September, El-Sisi said: “No government alone can make this recovery possible. It requires the support of the international community and financial institutions to achieve the UN SDGs.” H.E. Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, today called upon the international community to unite and spark a “green recovery”.

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