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Sisi directs government to keep up economic performance rate to ensure stability

Sisi’s directives came during his meeting with Prime Minister Mostafa Madbouli, Finance Minister Mohamed Maait, Deputy Finance Minister for Fiscal Policies Ahmed Kouchouk, and others

MENA , Sunday 25 Jul 2021
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Egypt's President Abdel-Fattah El-Sisi directed the government to keep up economic performance rates in order to ensure stable monetary and financial conditions in the country.

El-Sisi’s directives came during his meeting with Prime Minister Mostafa Madbouli, Finance Minister Mohamed Maait, Deputy Finance Minister for Fiscal Policies Ahmed Kouchouk, and others, presidential spokesman Bassam Radi said.

El-Sisi stressed the importance of regularly updating and upgrading the management of GDP data to accurately monitor different aspects of economic development in Egypt.

The president also highlighted the significance of increasing funds earmarked for public investments to meet the development targets listed in Egypt’s Vision 2023.

The meeting reviewed the economic performance and fundamentals for the fiscal year 2020/2021, which showed that the government had managed to increase its revenues by 12.2 percent to EGP 119 billion (about $7.6 billion), in addition to increasing its primary surplus by 1.4 percent to EGP 93.1 billion (about $5.9 billion).

The budget deficit was also narrowed to 7.4 percent, down from 8 percent.

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