Prime Minister Moustafa Madbouli affirmed the continuation of all policies supporting private sector empowerment and increasing its contribution to economic activity, foremost among them the government initial public offerings (IPOs) programme. He noted that work is currently underway to finalise financial valuation studies for a package of projects slated for offering before the end of the current fiscal year.
The remarks came during a cabinet meeting late on Monday, attended by members of the ministerial economic group to review a number of priority economic files and issues.
Cabinet spokesman Mohamed El-Homosani said the meeting reviewed preparations for the seventh review of the economic reform programme being implemented by the government and the Central Bank of Egypt (CBE) in co-operation with the International Monetary Fund.
He added that the government is successfully moving forward with implementing the targets of the economic reform programme, particularly those related to increasing the private sector’s contribution to economic activity.
It was also noted that during the Egyptian delegation’s participation in the Spring Meetings in Washington, strong and clear commendations were issued at various levels, including praise for how Egypt handled the repercussions of the US-Israeli war on Iran, as the government succeeded in taking a number of swift and proactive measures.
For his part, Foreign Minister Badr Abdel-Aati reviewed the outcomes of participation in the World Bank meetings in Washington from April 14 to 17, noting that more than 15 meetings were held with World Bank leaders, multilateral development banks and bilateral development partners focusing on ways to advance joint co-operation between Egypt and these institutions.
Meanwhile, the Minister of Planning and Economic Development reviewed key elements of the co-operation plan with the World Bank over the next two years, which includes projects to support small farmers, create job opportunities in the agricultural sector and support technological development and artificial intelligence as well as backing the restructuring programme of state-owned companies and social housing projects.
