The Faculty of Management at the Egyptian Russian University participates in the conference on financial and administrative challenges of the Corona pandemic
The Faculty of Management, professional Technology and Computers at the Egyptian Russian University participated in the second conference of the Faculty of Management at “Delta University for science and Technology” which was held “online”, under the title “Financial and Administrative Challenges of the Corona Pandemic and the Role of Knowledge Technologies”, under the supervision of prof. Dr. Yehya Abdel -Azim Al-Mashad, President of Delta University for Science and Technology.The conference was organized by prof. Dr. Azza El-Sherbiny , Dean of the College of Management at Delta University of Science and Technology.
Prof.Dr. Tahera El- Sayed, Dean of the Faculty of Management, professional Technology and Computers at the Egyptian Russian University, said in her speech at the conference that “Economic policies in the confrontation of Covid – 19” include three main axes: The first axis is the global economic crises. The second axis is economic policies in confronting Covid – 19 globally. The third axis is economic policies in confronting Covid -19 in Egypt.
Prof.Dr.Tahera added that previous economic crises were the result of a collapse in the financial market, followed by freezing credit and spending. While the current economic crisis resulting from the “Corona” pandemic, is a result of the cessation of economic activity because of the fear of the virus as well as the lockdowns and the social distance imposed by the governments.
Prof. Dr. Tahera El-Sayed pointed out that the role of economic policies has become important and must be directed to four channels, the first of which is to increase spending on the health sector in order to support workers and save lives.The second is to support small and medium sized businesses to ensure that workers are not laid off and the production is stopped. The third is backing individuals and families through direct cash payments to ensure the continuation of spending and demand which helps in the process of economic recovery. The fourth is the supporting of banks and financial institutions by the Central Bank to secure liquidity at a low cost to ensure the continuation of economic activity.
Prof. Dr. Tahera El-Sayed raised a question which is “What are the necessary economic policies to confront the economic effects of Covid – 19 ?
Prof. Dr.Tahera answered this question through a presentation of the most important financial and monetary policies that were used in most countries of the world, citing the largest three countries: “America, United Kingdom, and France”, in addition to the European Union.
She added that an analysis was done to show the similarity in the financial and monetary policy tools used between them, in addition to the similarity between them and the financial and monetary policy tools that were used in Egypt.
At the end of her speech, the Dean of the Faculty of Management, professional Technology and Computers at the Egyptian Russian University made the recommendation to coordinate between monetary policy and financial policy to face the economic crisis resulting from “Covid – 19” , in order to guarantee the continuation of economic activity.
Assuring the important role of the Central Bank in the public debt management, ensuring its sustainability, since the debts and it’s interests are expected to increase significantly as a result of the financial stimulus packages provided by the government to guarantee the continuation of economic activity.
Prof. Dr. Tahera El – Sayed concluded her speech by stressing the necessity of directing the Egyptian economic policy in the four channels that are mentioned above to activate the role of these policies in confronting the pandemic. She recommended the importance of international trade cooperation, and the exchange of information between countries to accelerate the elimination of the Corona virus , and to maximize the opportunities for economic recovery,particularly in low – income countries. World Health Organization must work to help these countries to improve the health sector in order to provide appropriate health services to the infected…….Pointing out that these countries must be helped to get vaccinations against this virus.
The Faculty of Management at the Egyptian Russian University
participates in the conference on financial and administrative challenges of the Corona pandemic.