Global Courant 2023-04-20 00:33:22
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President Abdel Fattah El-Sisi met today with the Economic Ministerial Group, in the presence of Prime Minister Dr. Mostafa Madbouly, Governor of the Central Bank, Mr. Hassan Abdallah, Director of the Egyptian General Intelligence Directorate, Major General Abbas Kamel , Minister of Planning and Economic Development, Dr. Hala El-Said, Minister of Planning of International Cooperation, Dr. Rania Al-Mashat, Minister of Finance, Dr. Mohamed Mait, and Presidential Adviser on Financial Affairs, Major General Mohammed Amin .
Presidency spokesman Adviser Ahmed Fahmy stated that the meeting discussed the current position of the global economy given the unprecedented challenges that had increased over the past two years. Such challenges disrupted global supply chains and contributed to the rise in strategic commodity prices and the slowdown in international growth rates, placing exceptional pressure on most countries in the world.
The meeting also witnessed the presentation of indicators of the overall performance of the Egyptian economy. It was noted that GDP growth continued in the first half of the current 2022/2023 fiscal year and is expected to reach growth of up to 4.2% by the end of the current fiscal year. It was also noted that the export rate has increased, the trade deficit has decreased and operating rates have increased. Ongoing efforts to support domestic and foreign private investment in the face of current challenges and difficulties were also presented.
President El-Sisi ordered further efforts to contain and mitigate the impact of the global crisis on Egypt’s economy. The president also ordered increased efforts to promote sustainable GDP growth, improve the investment climate and encourage the private sector. These efforts are part of the state’s commitment to the principle of competitive neutrality and a willingness to help different sectors overcome investment obstacles.
Distributed by APO Group on behalf of the Presidency, Arab Republic of Egypt.
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