President Sisi directs gov't to keep national budget on safe financial, economic path

MENA , Sunday 21 Aug 2022

President Abdel-Fattah El-Sisi directed Sunday to keep the national budget on a safe financial and economic path as well as draw up a medium-term strategy that aims at reducing the debt-to-GDP ratio.



El-Sisi’s instructions came during his meeting with Prime Minister Mostafa Madbouly, Minister of Finance Mohamed Maait, Deputy Minister of Finance for Fiscal Policies Ahmed Kouchouk, and Deputy Minister of Finance for the Public Treasury Ihab Abu Eish, Presidential Spokesman Bassam Rady said.

The meeting reviewed the fiscal performance and policies and the status of financial indices, Rady added.

The FY 2021-22 financial performance indices have proven that Egypt has showed resilience against the global economic changes and crises, managing to be in the ranks of a limited number of countries that succeeded in achieving a primary surplus of 1.3 percent of GDP, compared to primary deficits seen elsewhere.

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