The president also gave directives to sustain efforts to create a climate conducive for more private investments, taking into account the important role of the private sector in the development process, especially in terms of creating job opportunities and increasing rates of gross domestic product (GDP).
President Sisi was speaking during a meeting on Wednesday with the Ministerial Economic Group, comprising Prime Minister Moustafa Madbouli, Governor of the Central Bank of Egypt (CBE) Tarek Amer, Minister of Planning Hala el-Saeed, Minister of International Co-operation Rania al-Mashat, Minister of Finance Mohamed Maeet, Minister of the Public Business Sector Hisham Tawfik, and Minister of Trade and Industry Nevine Gamea.
President Sisi also reviewed the performance indicators of the Egyptian economy, Presidential Spokesman Ambassador Bassam Radi said.
The GDP growth rates had increased gradually since the beginning of the current year 2021, to achieve a significant and remarkable leap, standing at 7.7 per cent in the fourth quarter, despite the great challenges and repercussions of the coronavirus pandemic.
The president noted that the government has taken balanced measures in dealing with the pandemic taking into account the safety of citizens on the one hand and maintaining the economic activities on the other.
The government has also taken a raft of stimulus packages during the pandemic that were instrumental in increasing growth rates.
During the meeting, the president discussed the outcomes of the efforts to maintain the dwindling government debt-to-GDP ratio starting from the current fiscal year, as well as efforts to resolve financial entanglements in light of many initiatives taken by the state in this regard, according to the presidency spokesman.
Source: The Egyptian Gazette
