President Abdel-Fattah El-Sisi directs the Central Bank to take all measures to improve economic indicators and maintain banking stability.
This came during the President's meeting with Tarek Amer, Governor of the Central Bank of Egypt (CBE), and Deputy Governor Gamal Negm.
The meeting dealt with reviewing fiscal policy and the measures taken by the Central Bank to maintain monetary stability within the banking system.
In this context, President Sisi directed to continue taking all measures to reduce public debt and inflation, stressing the need to take into account the most needy and impoverished groups in parallel with social protection programs.
On his part, Amer reviewed the most recent developments and indicators of the financial position of the bank during the past year, stressing that the central bank seeks to ensure the achievement of the desired financial and economic targets through the stability of the exchange rate and strengthening the size of the foreign reserve, in order to increase International confidence in the Egyptian economy.
Amer also reviewed during the meeting the latest developments regarding the implementation of the central bank's strategy, including initiatives to finance small and medium sized enterprises (SMEs), support for service sectors, as well as efforts to develop and modernize banks, especially through the development of human cadres and the localization of financial technology to implement the inclusion initiative, to support the bank’s role in maintaining the integrity of the banking system and supporting financial stability.
Presidential Spokesman Bassam Rady stated that the meeting also witnessed the latest developments of the specialized committee, which reviews the situation of thousands of factories, companies that have been stalled since 2011 outbreak, in light of the president's instructions to take immediate measures that support these troubled entities and enable them to recover their activity.
Follow the latest news on Google News
