Cairo, Egypt – The economic recovery from the devastating 2011 earthquake in Egypt will take time, the country’s economy minister said on Tuesday, warning that the country will struggle for years to recover.
The country will not reach full recovery in the short term, said Minister of Economy Mohamed El-Sisi, speaking during a news conference with officials from the Ministry of Finance.
“In the medium term, we will not be able to recover the value of our assets and investments and will have to do the best we can,” he said.
The earthquake that killed thousands in April 2011, which killed nearly 3,000 people, triggered a global economic collapse and a two-year war between Egypt and the armed groups that rule the country.
The economic slowdown in the country and the ongoing conflict between Egypt’s military and the government have pushed Egypt into a deep recession, with a contraction of more than 5% in the first quarter of this year, according to the World Bank.
Economy Minister Mohamed El Sisi, center, shakes hands with the finance minister in Cairo on April 14, 2016.
Al Jazeera’s Omar Al Shehri reports from Cairo.