Sisi directs gov't to assess import of production inputs, raw materials

MENA , Tuesday 10 May 2022

President Abdel-Fattah El-Sisi directed on Tuesday the government to form a working group to regularly assess the import system and follow up on measures taken to meet the needs of the production sector, Presidential Spokesman Bassam Rady said.

President Abdel-Fattah El-Sisi


President El-Sisi's instructions came during his meeting with the economic ministerial group, including Prime Minister Mostafa Madbouly, Governor of the Central Bank of Egypt (CBE) Tarek Amer, Planning Minister Hala El-Said, International Cooperation Minister Rania Al-Mashat, Finance Minister Mohamed Maait, Public Business Sector Minister Hisham Tawfik, Trade and Industry Minister Nevine Gamea, and Presidential Advisor for Financial Affairs Major General Mohamed Amin.

The working group will be headed by the prime minister.

The meeting followed up on the work of the ministerial group and its measures taken to deal with the repercussions of the global economic crisis.

During the meeting, Amer reviewed the current monetary situation, saying the Egyptian economy managed to absorb the severe global repercussions of the Russian-Ukrainian crisis.

He noted that the country was able to maintain a safe financial and economic path, a balanced monetary situation, as well as stable foreign exchange reserves.

In this regard, President El-Sisi directed the new working group to exclude production inputs and raw materials from the procedures recently announced to regulate the importing process.

Amer also reviewed the evolution of the performance of the balance of payments in 2021 and the preliminary indicators during the period from January to March 2022, which witnessed increases in petroleum products and natural gas, in addition to an increase in tourism revenues and revenues of the Suez Canal, and the remittances of Egyptians abroad

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