Arab Finance: Dr. Mostafa Madbouly, Prime Minister, chaired the meeting Coordination Council for Fiscal and Monetary Policies; To review a number of priority economic files, in the presence of Hassan Abdullah, Governor of the Central Bank, Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Ahmed Kajouk, Minister of Finance.
Counselor Muhammad Al-Homsani, the official spokesman for the Presidency of the Council of Ministers, said that the meeting reviewed possible scenarios for dealing with the current events in the Middle East region in light of the continuing war on the Gaza Strip and Lebanon, and the repercussions of these events on the Egyptian economy.
In this regard, the Prime Minister stressed that the state of uncertainty imposed by the ongoing regional wars makes the government committed to studying different scenarios, which is what we are already working on in cooperation with the Central Bank.
Al-Homsani added that the Governor of the Central Bank confirmed during the meeting the success of the plan to stabilize the dollar exchange rate thanks to a number of important factors, pointing to the regularity of remittances by Egyptians abroad.
The Prime Minister stressed that the most important thing for Egyptians abroad is the existence of a single exchange rate, which the Central Bank has already succeeded in achieving in cooperation with the government and its various agencies.
Counselor Muhammad Al-Homsani added that the meeting discussed ways to enhance economic growth rates in light of the government’s decision to set a specific ceiling for public investments. In this context, the Prime Minister stressed that the government is working to increase the private sector’s contribution to economic activity and thus to the gross domestic product.
Dr. Mostafa Madbouly said: In this regard, we are continuing to work on the government IPO program, and during the coming period, important news will be announced regarding the IPO of a number of airports and banks, within the IPO program implemented by the government in cooperation with the International Finance Corporation.
Related news
