President Abdel Fattah El-Sisi stressed the importance of increasing Egypt’s foreign currency reserves and reducing external debt during a meeting with Prime Minister Mustafa Madbouli, Governor of the Central Bank of Egypt (CBE) Hassan Abdallah, and Finance Minister Ahmed Kouchouk, a presidential statement said.
During the meeting, President Sisi underscored the importance of maintaining and enhancing the alignment between monetary and fiscal policies, ensuring both are consistent with Egypt’s long-term economic vision.
He also stressed the need to secure the financial resources necessary to support development initiatives and achieve a sustainable reduction in budget and external debt.
Moreover, he was briefed on the country’s latest macroeconomic indicators and the structural and economic reform measures currently implemented by the government.
The statement added that these reforms are part of the sectoral programs aimed at improving financial and economic indicators while continuing to expand targeted social protection for the most vulnerable groups.
The meeting also reviewed the status of Egypt’s broader economic reform program, including efforts to expand productive sectors, diversify the economy, and enhance its performance to yield more substantial returns for the state.
The government aims to address inflationary pressures, stimulate private sector participation, and attract domestic and foreign investment.
President Sisi's directives come amid this week's planned fifth review, set to be conducted by an International Monetary Fund (IMF) team in Cairo, of Egypt's $8 billion EFF loan deal.
Source: Al-Ahram Online
