CAIRO – 02 July 2024: As Egypt looks for sustainable economic growth and to foster investment, the Egyptian cabinet will witness changes in the economic ministerial portfolio scheduled to be announced tomorrow.
According to local media platforms, Ahmed Kojok will be appointed as the new Minister of Finance.
Kojok currently serves as the Deputy Minister of Finance for Fiscal Policies.
He has extensive experience, having worked as an economist at the World Bank in Cairo, as well as in various roles at the Ministry of Finance, including Deputy Assistant Minister for Deauville Partnership Affairs and Director of the Macro-Fiscal Policies Unit.
The new cabinet will also see the merging of the Ministries of Planning and International Cooperation, to be headed by Rania Al-Mashat.
Kamel Al-Wazir is slated to be appointed as Deputy Prime Minister and Minister of Industry and Transport.
Furthermore, Egypt's Ministry of Investment and Foreign Trade could be returning, with Hassan El Khatib as its new minister.
El Khatib has more than 35 years of experience in the field of direct investment and investment banking, with a strong track record in Egypt, North Africa, Turkey, and Central and Eastern Europe.
He has served as a non-executive board member of the Sovereign Fund of Egypt and was the Executive Director of Direct Investment at the European Bank for Reconstruction and Development (EBRD) from 2014 to 2023, overseeing an investment portfolio ranging between $8 and $10 billion.
These appointments and reorganizations within the economic ministerial portfolio reflect Egypt's commitment to driving sustainable economic growth, fostering investment, and strengthening its position in the global economy.
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