Prime Minister Mostafa Madbouly
PM Madbouly made his remarks during the cabinet's Wednesday meeting.
During the meeting, he announced the cabinet’s decision to hold biweekly meetings to monitor the progress of projects under the Decent Life initiative.
He clarified that the goal is to complete the initiative’s first phase and prepare for launching the second phase in fiscal year (FY) 2025/2026.
The cabinet also raised the budget for the Takaful & Karama social protection programme to EGP 53 billion for 2025/2026, up from EGP 40 billion, to ensure greater support for vulnerable families.
Moreover, Madbouly noted that the government will launch 400,000 housing units across different social categories after Eid Al-Fitr in April.
The prime minister also highlighted that the state prioritises preserving Egypt’s architectural heritage while redeveloping the Khedivial Cairo.
The government aims to maintain these areas' historical and urban character without altering their cultural identity, he emphasized.
Furthermore, Madbouly noted that the government is closely monitoring export growth. Sector-specific meetings will begin next week to ensure each industry meets its export targets.
He also revealed that Egypt’s inflation rate has declined to 12.5 percent, the lowest in three years, with a target of reducing it to 10 percent by 2026.
Madbouly said foreign currency resources remain strong, and weekly reviews are conducted with the governor of the Central Bank of Egypt to meet all USD-related needs.
"The International Monetary Fund's approval of the fourth review of Egypt’s economic reform programme is a message of confidence in the Egyptian state and a significant endorsement of its economic progress," the prime minister added.
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