Last Update 0:15
Wednesday, 23 October 2019

Egypt's Sisi directs ministers to cut public debt, budget deficit

MENA , Thursday 3 Jan 2019
Views: 2542
Views: 2542

President Abdel Fattah El Sisi issued directives to officials to exert further efforts to reduce public debt and slash budget deficit through proceeding with the comprehensive economic reform program and focusing on its various institutional, legislative, financial and monetary aspects. 

Sisi made the remarks during a meeting on Thursday with members of the Economic Ministerial Committee, in the presence of Prime Minister Mostafa Madbouli, Governor of the Central Bank of Egypt Tarek Amer in addition to the ministers of investment and international cooperation, planning, monitoring and administrative reform, finance, trade and industry and public business sector.

Sisi said the economic reform program helps promote confidence in the Egyptian economy’s performance and ability to attract investments in a way that increases production rates and improves competitiveness, Presidential Spokesman Bassam Rady said in a statement. 

The meeting also touched on the draft budget for the 2019/2020 fiscal year, which mainly focuses on human and social development via plans to reform the education system, upgrade health services and develop training programs for the youth. 

The spokesman added that the draft budget aims to maintain the sustainability of growth rates, generate sufficient job opportunities and avoid any economic slowdown.

It also targets stability of the tax system to preserve the country’s tax resources, Rady noted. 

Search Keywords:
Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.