Friday 27 Dec
Hisham Talaat Moustafa, prominent businessman and CEO of Talaat Moustafa Holding Group (TMG), warned on Wednesday that the current 32% interest rate is unsustainable for the financial structures of Egyptian companies.
During a meeting with Prime Minister Dr. Moustafa Madbouly and other leading businessmen and investors, Hisham Talaat proposed a comprehensive study to develop a scientific plan for addressing the economic challenges and finding a viable solution. He stressed the need for a fundamental shift in the government's approach to tackling the current economic difficulties.
Prime Minister Madbouly met on Wednesday
evening with a number of leading businessmen and investors from various sectors
to discuss the challenges facing the private sector. He sought their insights
and opinions on measures the government can take to drive progress across
various sectors in the coming year. This meeting follows a series of
engagements initiated by the Prime Minister with journalists, editors-in-chief,
writers, and intellectuals.
Dr.Madbouly emphasized his eagerness to convene with this select group of business leaders and investors, recognizing their prominent roles across various sectors of the private sector. He highlighted the importance of inclusive representation, with attendees from diverse fields such as industry, tourism, agriculture, food security, and real estate development. He emphasized that this meeting aims to identify the support which Egypt needs to provide in order to facilitate rapid progress.
