He said the package will help the state proceed with structural and economic reforms, especially empowering the private sector and enhancing its contribution to the development efforts in addition to bolstering the economic competitiveness and improving the business climate.
He made the remarks during the cabinet meeting.
During the meeting, the premier greeted President Abdel Fattah El Sisi, Armed Forces and Egyptian people on the 10th of Ramadan victory anniversary.
As for economic and social affairs, Madbouli highlighted the important outcome of the Egyptian-European summit in Cairo with the participation of the leaders of Italy, Belgium, Austria, Cyprus, Greece and the European Commission.
He added that Egypt and the EU elevated their comprehensive strategic partnership in addition to the EU’s offering of a 7.4 billion euros package of financial and investment support for the Egyptian economy in 2024-2027.
He noted that the European leaders voiced deep appreciation for Egypt’s efforts to confront illegal immigration along the Egyptian coast.
He added that S&P Global Ratings changed its global outlook of Egyptian economy from stable to positive.
The premier noted that he is holding daily contact with the governor of the Central Bank of Egypt to improve economic conditions.
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