Friday 22 Nov
Prime Minister Dr. Moustafa Madbouli issued a decree establishing the economic ministerial group and defining its responsibilities
The decree stipulated that the Economic
Ministerial Group is chaired by the Prime Minister. The group comprises: Governor
of the Central Bank of Egypt, Minister of Planning, Economic Development and
International Cooperation, Minister of Finance (who will serve as the group's
rapporteur and official spokesperson), Minister of Supply and Internal Trade,
and Minister of Investment and Foreign Trade. The group will convene weekly,
with additional meetings as needed. They may invite relevant individuals and
seek expert assistance for specific matters.
The group shall be responsible
for setting the overall framework for the country's economic and financial
policies. This includes: defining strategic directions across various areas to
promote economic growth and employment rates; ensuring financial sustainability
and economic stability in both the short and long term; researching and
analyzing economic and financial issues referred to them; developing
recommendations and proposing relevant legislation, when necessary.
In addition to its
responsibilities, the Economic Ministerial Group will also review key economic
indicators on a quarterly basis, and develop recommendations and proposals to
enhance these indicators and ensure the implementation of these
recommendations.
The decree empowers the group,
following an assessment of the economic situation and with the Prime Minister's
approval, to make crucial decisions. These decisions may include prioritizing
structural reforms, proposing necessary policies to address economic challenges
and ensure stability, even in times of crisis.
Additionally, the group coordinates with other groups and ministerial
bodies to ensure coherent economic, social, and sectoral policies
The Economic Ministerial Group will communicate with local political, economic, and social stakeholders. Its goal is to garner public support and encourage state institutions to effectively implement these policies. The group will also foster international economic engagement through policy-level negotiations with financial institutions and promotion of the Egyptian economy on local and global platforms, and undertake any additional tasks necessary to fulfill the state's economic policy objectives.
