Madbouly Chairs First Meeting of Economic Ministerial Group

Prime Minister Mostafa Madbouly chaired the first meeting of the economic ministerial group, after announcing the new ministerial formation.

This came on Wednesday in the presence of Hassan Abdullah, Governor of the Central Bank, Rania Al-Mashat, Minister of Planning, Ahmed Kajouk, Minister of Finance, Sherif Farouk, Minister of Supply, Hassan Al-Khatib, Minister of Investment, and Yasser Sobhi.

The prime minister assigned the economic group to develop proactive scenarios to deal with current and expected global and regional events and their repercussions on both the global economy and the Egyptian economy.

Madbouy pointed out the continued coordination with the Central Bank to preserve the gains achieved, and at the same time strive to achieve financial sustainability and maintain economic stability.

He stressed the importance of achieving a new start in the Egyptian economy that fulfills the aspirations of citizens during the coming period, pointing out that there is an improvement in some indicators, including a drop in the size of external debt, a decline in inflation rates, and an improvement in the purchasing managers’ index.

Madbouly also stressed the necessity for the Economic Group to coordinate with other ministerial groups and committees to ensure coherence of economic, social and sectoral policies.

At the same time, the prime minister stressed that there are a group of urgent files that must be taken care of as top priorities, namely inflation rates and FDI.