Egyptian President Abdel Fattah El Sisi conferred on Monday with Central Bank Governor Hassan Abdullah to review some key aspects of Egypt’s current economic performance, especially including the efforts under way to sustain reduction of inflation rates.
Also reviewed during the meeting were the indicators drawn from the state’s efforts to beef up its foreign currency reserves, the overall scene of the global economy and the consequences of international challenges on Egypt’s macroeconomic environment, Presidency spokesman Mohamed el-Shennawy said.
In the course of the meeting, President Sisi emphasized that ensuring adequate dollar resources has a direct positive effect on securing sufficient stocks of essential goods, petroleum products, and industrial inputs.
The President also stressed the necessityof continuing efforts to increase foreign currency inflows, particularly from domestic sources, while maintaining close coordination between the government and the Central Bank to preserve a flexible and unified exchange rate, spokesman Shennawysaid.
Also considered during the were ways of making chances and financing available for the private sector to push forward the country’s economic growth in a way that contributes to increasing investment flows and maximizing the private sector’s role in economic activity.
In this connection, President Sisi directed the strengthening of incentives to leverage available economic opportunities and called for continued efforts to create favorable conditions for attracting foreign investment and empowering the private sector, the Presidency spokesman said.
