By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CIB signs MoU with LinkedIn learning to promote youth learning culture
    CIB signs MoU with LinkedIn learning to promote youth learning culture
    May 31, 2023
    Islamic banking in Egyptian market increases to EGP 544bn in March 2023
    Islamic banking in Egyptian market increases to EGP 544bn in March 2023
    May 31, 2023
    Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
    Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
    May 31, 2023
    Cyprus' offshore Aphrodite gas field to be linked to Egypt: NewMed
    Cyprus’ offshore Aphrodite gas field to be linked to Egypt: NewMed
    May 31, 2023
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
  • Politics
    PoliticsShow More
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 2023
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    May 31, 2023
    Opinion| The American debt crisis and the 2024 elections
    Opinion| The American debt crisis and the 2024 elections
    May 31, 2023
    Abdel Ghaffar affirms Egypt’s support for the Palestinian health sector
    Abdel Ghaffar affirms Egypt’s support for the Palestinian health sector
    May 31, 2023
    Lebanon's army says frees kidnapped Saudi citizen
    Lebanon’s army says frees kidnapped Saudi citizen
    May 30, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Economic reform programme results suggest we are on right track, says Al-Sisi
Share
Notification
Latest News
CIB signs MoU with LinkedIn learning to promote youth learning culture
CIB signs MoU with LinkedIn learning to promote youth learning culture
Banking
AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
Politics Egypt
Islamic banking in Egyptian market increases to EGP 544bn in March 2023
Islamic banking in Egyptian market increases to EGP 544bn in March 2023
Banking
Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
Banking
Cyprus' offshore Aphrodite gas field to be linked to Egypt: NewMed
Cyprus’ offshore Aphrodite gas field to be linked to Egypt: NewMed
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Economic reform programme results suggest we are on right track, says Al-Sisi
Business

Economic reform programme results suggest we are on right track, says Al-Sisi

Fatma Lotfi
Last updated: 2018/06/30 at 2:46 PM
By Fatma Lotfi 3 Min Read
Share
President Abdel Fattah Al-Sisi to Daily News Egypt: Egypt’s Blueprint for Stability, Investment and Growth
SHARE

Egypti’s President Abdel Fattah Al-Sisi on Saturday said that the results of the economic reform programmes, the government implemented recently, suggested that Egypt is on the right track.

“The economic reform programme’s results so far, suggested that we are on the right track,” said Al-Sisi during his speech on June 30 uprising anniversary, explaining, “Egypt’s reserve currency increased from $15bn to reach more than $44bn, which is a historical record.”

Al-Sisi asserted, “there is no doubt that the road to economic reform is difficult and rough, causing a lot of hardship, but not implementing those kind of reforms would cause more hardship,” adding, “Egyptians stopped a wave of extremism and division, which had been thought to sweep through the region,” elaborating that Egyptians, as usual, have the final say and are “unified with their state institutions” to confront “extremism.”

The president further noted that the Egyptian Armed Forces and security forces succeed in “besieging and halting the spread of terrorism in the country, despite the external huge finical, political support given to those militant groups.” 

On Friday, the International Monetary Fund (IMF) executive board approved the completion of the third review of Egypt’s economic reform programme, allowing the Egyptian authorities to receive $2bn.

Tied to the three-year $12bn IMF loan agreement signed in 2016, Egypt implemented a series of austerity measures, including floating of the pound, raising taxes, and the removal of fuel and energy subsides. Earlier this month, Egypt raised fuel prices by 35.0%-66.6%, followed by new hikes in electricity prices.

On the other hand, the Egyptian Parliament approved the extension of national state of emergency for the fifth time for three years, since it was first declared in April last year, following two deadly bomb attacks targeted two churches in Alexandria and Tanta, killing at least 45 people and injured more than 100.

Meanwhile, Al-Sisi on Thursday officially appointed Major General Abbas Kamel as the director of the Egyptian General Intelligence Services (GIS) and Nasser Fahmy as the deputy chief of the GIS. In January, he appointed Kamel as interim chief of the GIS after the dismissal of Khaled Fawzi, who was serving as the chief of the GIS.

You Might Also Like

CIB signs MoU with LinkedIn learning to promote youth learning culture

Islamic banking in Egyptian market increases to EGP 544bn in March 2023

Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023

Cyprus’ offshore Aphrodite gas field to be linked to Egypt: NewMed

EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi

TAGGED: Abdel Fattah Al-Sisi, economic reform
Share this Article
Facebook Twitter Email Print
By Fatma Lotfi
A journalist in DNE's politics section with more than six years of experience in print and digital journalism, focusing on local political issues, terrorism and human rights. She also writes features on women issues and culture.
Previous Article 30 June uprising played an important role in changing Egyptian women`s agenda, says NCW president
Next Article Shoukry holds meetings with African counterparts ahead of AU summit
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

CIB signs MoU with LinkedIn learning to promote youth learning culture
CIB signs MoU with LinkedIn learning to promote youth learning culture
Banking
AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
Politics Egypt
Islamic banking in Egyptian market increases to EGP 544bn in March 2023
Islamic banking in Egyptian market increases to EGP 544bn in March 2023
Banking
Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
Banque du Caire’s net profit grows 29% to over EGP 1bn in 1Q 2023
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?