Egypt university scholar lecturing on the world economy

An open lecture on the situation in the modern international monetary system was held at the Mahmoud Darwish Center for Arabic Language and Culture “BelSU”. The lecturer was Dr. Nur Abdelwadud Nada Salem, a professor at the Cairo Sadat Academy of Scientific Management, a financial consultant to government and commercial structures in Egypt, and former Minister of Labor of the Arab Republic of Egypt.

Organized within the framework of the project "Creating a friendly environment for interaction between students of BelSU and students from Arab countries" of the stratproject "University Open to the World" of the "Priority 2030" program, the event was held in a mixed format. Full-time students of the Institute of Economics and Management and the Institute of Intercultural Communication and International Relations "BelSU", representatives of the community of Arab countries present at the Center. Students of other institutes and departments of the university joined in the distance format.

Dr. Nur explained about the backgrounds and stages of any economic crisis, noting that this is a cyclical phenomenon, and in a capitalist economy it necessarily repeats with a certain frequency. The speaker also focused on to the fact that the obligatory companion of the economic crisis is war.

– War is not only and not so much a militaristic process. First of all, this is an economic process that is associated with the search for benefits, an attempt to resolve a difficult situation in one’s favor. One of the reasons for the current economic crisis and related conflicts is the Covid-19 pandemic, which has stalled and exhausted the economies of many countries, explained Dr. Noor.

The lecturer also drew the attention of those present to the fact that the Russian economy, despite the widespread opinion about its instability, is one of the strongest in the world. This is evidenced by the fact that the country successfully copes with the sanctions and does not suffer large losses.

– As a financier, I am very admired by what is happening in Russia. I am not Russian, but I have a lot of respect for all Russians and what they do and what they fight for. I see the situation from the outside, and this makes it possible to have an unbiased analysis, commented Dr. Noor.

In addition, the expert noted that the world economy is currently undergoing a large-scale transformation; new currencies are entering the world arena, which can, if not eliminate, then significantly displace the American dollar. At the same time, many countries, including Egypt, want to have stronger economic and cultural ties with Russia. In that way, in Egypt there is a huge need for studying the Russian language, which in the near future will be reflected in the number of students choosing to study at Russian universities.

The head of the Department of Innovative Economics and Finance of the Institute of Economics and Management "BelSU", Doctor of Economics, Professor Oksana Vaganova, who participated in the meeting, thanked Dr. Nur for his interesting analysis of the world economic space, an outside view of the situation in Russia and a friendly, warm attitude towards the Russian people Oksana Vaganova also expressed interest in cooperation, offering to conduct joint research and conferences, and prepare scientific publications.