Standard Chartered Bank in Egypt will play an effective role in supporting the Egyptian economy, linking investment between Asia, the Gulf region and Egypt.
This statement by Minister of Finance Mohamed Maait came during his meeting on Monday with Rula Abu Menna, CEO of the Middle East and North Africa region at Standard Chartered Bank, on the sidelines of the World Economic Forum in Riyadh, Saudi Arabia.
Discussions focused on the economic and financial prospects for Egypt, which have become more stable and stimulating for growth, development and job creation, in addition to strengthening the bilateral co-operation between Standard Chartered Bank and Egypt during the coming period.
Comprehensive and integrated structural reforms, supporting the productive and export sectors, enacted by the government have opened prospects for the Egyptian economy, the minister said.
Egypt has taken bold steps towards economic stability, which was reflected in the positive results of financial performance during the past nine months, the minister added.
This country is committed to a strategy bringing debt and total deficit rates down in the medium term, Maait added, noting that the state targets real growth of 4.2 per cent and a primary surplus of 3.5 per cent in the next fiscal year 2024-2025.
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