President Abdel Fattah El-Sisi met on Wednesday with Prime Minister Mostafa Madbouli, Finance Minister Ahmed Kouchouk, and Planning Minister Ahmed Rostom.
The Presidency Spokesman Mohamed El-Shennawy said the meeting reviewed the government’s ongoing efforts to implement the economic reform programme. The president stressed the need to continue the financial reforms to ensure financial and economic stability and stimulate private sector growth and the commitment to sustaining economic activity, production, manufacturing, and exports through balanced fiscal policies that encourage investment, as well as enhancing the participatory development planning process to ensure the efficiency of public investment and maximise the impact of development projects, initiatives, and programmes in accordance with “Egypt Vision 2030.”
The Presidency Spokesman added that the meeting discussed the government’s intensive efforts to finalise the formulation of Egypt’s vision for the post-IMF agreement phase. It stressed the importance of developing a national economic development programme that ensures the competitiveness of the Egyptian economy and the sustainability of economic conditions. The meeting also reviewed matters related to accelerating the implementation of the comprehensive health insurance system and speeding up the implementation rates of the presidential initiative for the development of the Egyptian countryside (A Decent Life) as a priority for the investment plan.
Ambassador El-Shennawy said that the meeting reviewed the negative impacts of the current regional conflict on supply chains, global trade, financial markets, and commodity markets. It stressed the importance of continued coordination among ministries and relevant authorities to ensure market stability and maintain strategic reserves of commodities at their current safe levels.
He noted that the meeting reviewed a proposal on entrepreneurship and innovation through the development of a comprehensive framework for an executive programme to foster an entrepreneurial ecosystem, with the aim of supporting entrepreneurial projects and startups as part of the launch of new employment initiatives.
President Sisi emphasised the need to improve the economic situation, ensure that this improvement is reflected in citizens’ quality of life, increase private-sector participation in economic activity, and expand new areas to support the economy. The President also stressed the need to diversify sources of financing for development and infrastructure projects, engage with regional and international development initiatives and efforts, and support climate action and the transition to a green economy.
