Egyptian President Abdel Fattah Al-Sisi met on Tuesday with Prime Minister Mostafa Madbouly, Central Bank of Egypt Governor Hassan Abdalla, and Finance Minister Ahmed Kouchouk to review macroeconomic indicators and economic reforms.
A spokesperson for the Egyptian Presidency, Ambassador Mohamed El Shennawy, stated that President Al-Sisi was briefed during the meeting on macroeconomic indicators, alongside the economic and structural reforms the government is implementing. These efforts are aimed at improving economic and financial indicators through sectoral programmes covering various economic activities, in addition to continued efforts to enhance and expand social protection programmes for vulnerable groups.
El Shennawy indicated that the meeting also reviewed the latest developments in the implementation of the economic reform programme. Discussions covered increasing productive activities and sectors, diversifying and stimulating economic sectors to achieve the best returns for the state, helping to contain inflationary pressures, encouraging the private sector to drive economic growth and employment, and attracting more local and foreign investment flows.
El Shennawy further explained that President Al-Sisi stressed during the meeting the necessity of continuing and strengthening the harmony between fiscal and monetary policies, ensuring their consistency with the state’s economic vision. The President also emphasised focusing on increasing foreign exchange reserve levels, meeting the financing needs necessary to enhance development efforts, working to sustainably and robustly reduce the budget deficit and its servicing costs, and working to lower external debt.
