PM: Spending Priority to Focus on Human Development, Economic Performance

Prime Minister Mostafa Madbouly confirmed, Sunday, that spending priority during the next phase will focus on areas of human development in parallel with working to improve economic performance indicators, give more space to the private sector, and improve citizens' standard of living.

This came during a meeting held by Mostafa Madbouly today with Ahmed Kouchouk, Minister of Finance, during which they discussed a number of the ministry's work files.

Mohamed El-Homosany, the official spokesman for the Cabinet, said that the meeting stressed that public spending during the next phase will take into account the social dimension more, which will contribute to containing the impact of economic reforms.

He added that the meeting also witnessed an emphasis on the continuation of financial policies in supporting the production and export process, and moving forward in reducing public investment rates in favor of raising the rate of private investment with a focus on investments directed to industry and export.

The spokesman pointed out that the meeting reviewed the most prominent tax incentives that are scheduled to be announced by the government within days, which will enable the investor to protect his rights and support him so that he can grow, expand and expand his investment, production and development activities as well, in a manner consistent with the state’s direction and keenness to empower the private sector and make more room for it, which will contribute to enhancing sustainable economic growth.