PM: Economic file on top of gov’t agenda

This came during the economic group’s meeting on Monday evening to discuss a number of important files related to economy, with several ministers and senior officials attending.

Madbouli said there is full coordination with the Central Bank of Egypt to secure the necessary funding to purchase goods and meet production requirements, particularly with the ongoing repercussions of the Russian-Ukrainian crisis that continues to cast a shadow over the global economy and affects even the largest economies in the world.

The “Higher Committee for Economic Performance” has been formed to follow up on the main tasks assigned to the ministers, he said.

The committee held regular meetings to ensure the completion of the assigned economic tasks, Madbouli said.

He further noted that the committee’s work aims to enhance the participation of the private sector and increase its contribution to the Egyptian economy to 65% during the coming three years, compared to 30% during the current period.

The General Authority for Investment and Free Zones (GAFI) and the Sovereign Fund of Egypt exerted genuine efforts to lure more local and foreign investments, the premier said.