Egypt’s President Abdel Fattah Al-Sisi convened with key government officials, including Prime Minister Mostafa Madbouly, Central Bank Governor Hassan Abdullah, and ministers from the Planning, International Cooperation, and Finance departments.
The assembly provided President Al-Sisi with an update on the nation’s economic health, spotlighting the outcomes of recent investment strategies, economic revitalization efforts, and initiatives designed to attract investment. These measures have been the government’s focus over the previous year.
The Presidency’s spokesperson highlighted that these concerted efforts have positively influenced the international credit rating agencies’ outlook on Egypt’s economic future. Discussions ensued on strategies to bolster sustainable growth, amplify private sector engagement, prioritize industrial development, integrate modern technology, and expand exportation.
Deliberations also covered strategies to combat inflation and stabilize commodity prices. Presentations showcased initiatives to augment the supply of goods in the domestic market, either by streamlining port procedures amidst the influx of foreign currency or by boosting local production and sustaining strategic reserves of essential commodities.
President Al-Sisi was also apprised of progress in the social support package implementation, designed to alleviate the cost of living for Egyptian citizens.
He directed the government to redouble efforts towards economic resilience, targeting a reduction in the overall budget deficit and the public debt-to-GDP ratio, while fostering projects with export potential.
Furthermore, President Al-Sisi mandated ongoing and enhanced measures to lessen the financial strain on citizens, particularly through inflation management. He emphasized prioritizing human development sectors such as health and education in the forthcoming budget, aiming to improve services for Egyptians and support the nation’s comprehensive development goals.
