Egypt’s president orders continuing procedures to improve economic indications

CAIRO – 30 January 2021: Egypt’s President Abdel Fattah El Sisi ordered continuing the implementation of procedures meant to improve the country’s economic indications and maintain the banking and monetary stability.

In a meeting with Prime Minister Mostafa Madbouly and Central Bank governor Tarek Amer, the president urged to continue these efforts in coordination with relevant state institutions, especially those meant to contain the economic repercussions of the pandemic.

According to Presidential spokesman Bassam Radi, the meeting reviewed the efforts made by the Central Bank within the framework of the activity of the monetary and banking system.

Amer showcased the bank’s initiatives to back various sectors of the Egyptian economy amid the pandemic, with the aim of helping companies in these sectors to maintain their financial solvency and workforce.

“The Governor also stated that all the needs of the governmental sectors should be provided to finance the development process,” the spokesman said.

“Amer showcased the efforts of the banking system to develop the economy, to govern the banking performance, and to raise investment levels,” according to the statement.

Furthermore, the CBE Governor further presented the efforts made to improve the services provided to citizens and reduce their cost through electronic payments, the statement added.