Egypt dealt with consecutive int'l crises successfully, Union of Arab Banks head

CAIRO – 17 May 2022: Egypt’s Prime minster Mostafa Madbouly said, Tuesday that the Russian-Ukrainian crisis imposed great challenges over several countries all over the world.

He added during meeting with the Head of the Board of Directors of the Union of Arab Banks (UAB) Sheikh Mohamed El Jarrah El Sabbah that the political conflict has doubled the pressures on the Egyptian budget.

El Sabbah said that the Egyption government managed to deal with the consecutive international crises successfully and provide basic commodities to its citizens amid the most difficult conditions.

The UAB head made the remarks during a meeting held on Tuesday with Prime Minister Madbouly at the Cabinet headquarters.

He lauded the great development that Egypt is currently witnessing, highlighting the important international press conference held by the Egyptian government early this week to inform the Egyptians and the entire world about the State’s plan to deal with the global economic crises in a move that embodies the principle of transparency.

Meanwhile, the premier said the State is keen to post the citizens and the world on the current and future action plans, adding that it works assiduously to mitigate the repercussions of the global crises on citizens.

Madbouli thanked the AUB for selecting Egypt to host the Arab Banking Conference 2022 that is set to be held in Cairo on Wednesday under the theme: "The repercussions of the international crisis & its impact on the economic situation in the Arab region.”