President Abdel-Fattah El-Sisi during his meeting with Prime Minister Mostafa Madbouly and Governor of Central Bank Hassan Abdullah on Tuesday 24 October, 2023. Photo courtesy of Egyptian Presidential Spokesman.
The president made his directives during a meeting with Prime Minister Mostafa Madbouly and Governor of Central Bank Hassan Abdullah.
The directives align with the state's efforts to improve overall economic indicators, diversify its production structure, and create promising opportunities to attract investments, create jobs and increase GDP growth rates, read the statement.
The president was briefed on the overall performance indicators of the Egyptian economy in the recent period and the progress in implementing the initiative to reduce the prices of essential goods.
In this regard, the president instructed “ongoing and intensive” collaboration between the government and the private sector to reduce prices of essential goods to alleviate the burdens on citizens, the statement added.
El-Sisi was also briefed on the key economic objectives and collaborative efforts with various international financial institutions in this regard.
Today’s meeting was also attended by General Abbas Kamel, head of the Egyptian General Intelligence Service, Hala El-Saeed, Minister of Planning and Economic Development, and Mohamed Maait, Minister of Finance.
Egypt’s annual headline inflation decelerated in September to 38 percent, down from 39.7 percent in August, the Central Agency for Public Mobilization and Statistics (CAPMAS).
In September also, the president raised the minimum wage for public sector employees from EGP 3,500 to EGP 4,000 as part of a series of measures meant to alleviate the current financial strains on citizens.
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