Thursday 21 Nov
Prime Minister Dr. Moustafa Madbouly confirmed that Monday's IMF Board approval of the third review under Egypt's economic reform program is a crucial milestone in realizing the government's economic vision. This endorsement signifies strong confidence in the government's reform agenda and its ability to meet financial and economic targets. He highlighted the positive trajectory of current economic indicators.
This came during Madbouly’s
presidency of the government meeting on Tuesday, at its headquarters in New
Alamein city, to discuss a number of various files.
He emphasized the government's
strong budget performance in the previous fiscal year and its ambitious goals
for the current year, despite economic challenges. He also reiterated the
government's commitment to lowering the debt-to-GDP ratio.
Madbouly outlined recent meetings
held by President Abdel Fattah El-Sisi during the past days that focused on
critical energy sector issues, particularly addressing the directive to find
permanent solutions for reducing and ultimately eliminating electricity load
shedding during the summer to relieve the burden on citizens. This matter, he
emphasized, is a top government priority, with ongoing collaboration among
relevant ministries and agencies.
He stressed the government's
ongoing efforts to ensure market stability, control prices, and increase goods
availability. These measures, he said, are crucial for lowering inflation
rates.
During the meeting, Dr.Madbouly
discussed his recent inspection of New Alamein City projects to assess
progress. He stressed the importance of continued on-site visits by officials
at all levels to identify and address challenges promptly. Such visits, he
explained, provide invaluable insights into project implementation and
potential solutions to any challenges facing the work files in any ministry and
governorate.
