Sisi reviews overall indicators of national economy

Egypt’s President Abdel Fattah El Sisi presided over a major meeting that was attended by Prime Minister Moustafa Madbouli, Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning and Economic Development Hala Al-Saeed, Minister of International Co-operation Rania Al-Mashaat, and Finance Minister Mohamed Maeet.

President Sisi, reviewed During the meeting, the overall indicators of the national economy, in light of the recent investment and financing measures, packages to revitalise the economic sectors, and the programmes to attract investments, on which the government focused its efforts over the past year, Presidency Spokesman said.

These efforts have been reflected on the improvement in the outlook by international credit rating agencies over the future of the Egyptian economy, the spokesman added.

In this regard, the meeting discussed means to bolster sustainable growth, boost private sector activities, with more focus on the industrial sector, transfer of modern technology, as well as increasing exports, he added.

In addition, the meeting tackled the government’s measures, which aim to confront inflation and ensure stability of commodity prices.

President Sisi reviewed the ongoing efforts to increase supplies on local markets, whether via facilitating procedures for releasing goods from ports, amid recent inflows of foreign currencies, or by boosting production, while maintaining strategic reserve of basic commodities.

President Sisi followed up on latest developments pertaining to the implementation of the social package aiming to alleviate financial burden of living conditions on citizens, the Presidency Spokesman noted.

President Sisi ordered the government to intensify efforts to achieve economic sustainability, through reducing the total budget deficit, and the public debt to GDP, as well as increasing productive projects, in particular those directed to export.

President Sisi also directed the government to continue efforts to reduce burden on citizens, especially in terms of controlling inflation, focusing in the next public budget on human development sectors, mainly health and education, in a manner likely to ensure the provision of better services to the Egyptian people, in addition to achieving the state’s goals of comprehensive development.