President Abdel Fattah El-Sisi met on Wednesday 20/3/2024 with Prime Minister, Dr. Moustafa Madbouly; Governor of the Central Bank of Egypt, Mr. Hassan Abdallah; as well as the Ministers of Planning and Economic Development, International Cooperation and Finance.
Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said President El-Sisi was briefed on the overall indicators of the economy, in light of the recent investment and financing measures, the packages to revitalize the economic sectors and the investment attraction programs.
These programs were the primary drive of the government’s efforts over the past year and reflected on the improvement in the outlook of international credit rating institutions on the future of the Egyptian Economy. The meeting, in this regard, discussed ways to strengthen sustainable growth, increase private sector activity, and focus more on the industrial sector, the transfer of modern technology, and increasing exports.
The meeting tackled the government’s measures to
address inflation and ensure the stability of commodity prices. It also reviewed efforts to boost the volume of commodity supply in local markets, whether by facilitating procedures for releasing goods at ports, driven the recent inflows of foreign currencies, or by increasing local production, while continuing to preserve the strategic reserve of basic commodities. The President also followed-up on developments in the implementation of the social package, which aims to ease the living burdens on the citizens.
President El-Sisi gave directives to exert intensive efforts toward achieving economic sustainability, by reducing the total budget deficit and the ratio of public debt to gross domestic product, and by increasing productive projects, primarily those oriented toward export.
The President also stressed the need to further strengthen efforts toward relieving the burdens on citizens, notably by controlling inflation, while focusing in the next general budget on the human development sectors, particularly
health and education.
This aims to ensure the delivery of better services to the Egyptian citizen and contribute to realizing the state’s objectives of achieving comprehensive development.
Source: State Information Service Egypt