PM decides to establish roles of economic ministerial group

Prime Minister, Mostafa Madbouly, has issued a decree to establish and define the roles of the economic ministerial group.

According to the decree, the group will be led by the Prime Minister and comprise the following members: the Governor of the Central Bank of Egypt, the Minister of Planning, Economic Development and International Cooperation, the Minister of Finance, the Minister of Supply and Internal Trade, and the Minister of Investment and Foreign Trade.

The Minister of Finance will act as the group’s official spokesperson.

The Economic Ministerial Group will convene on a weekly basis or as needed, and it has the authority to invite experts to attend its meetings.

Its primary responsibility is to establish the overall framework for the country’s economic and financial policies, encompassing various aspects, with the aim of promoting growth and employment while ensuring financial sustainability and economic stability within different timeframes.

Additionally, the group will examine and analyze all economic and financial matters referred to it, provide opinions and recommendations, and propose relevant legislation when necessary. It will also periodically review the indicators of the Egyptian economy and offer recommendations and proposals to enhance and implement them effectively.

The decree empowers the Economic Ministerial Group, with the Prime Minister’s approval, to make essential decisions, including identifying priority measures for structural reforms and suggesting appropriate policies to address challenges faced by the Egyptian economy and maintain its integrity, taking into account any emerging circumstances.

Furthermore, the Economic Ministerial Group is responsible for coordinating with other ministerial groups and committees to ensure the coherence of economic, social, and sectoral policies and their alignment. It will engage in communication with various local political, economic, and social entities to articulate the vision for the Egyptian economy and economic policy directions, aiming to garner public support and achieve policy success.

Moreover, the group will actively engage with the international community, including negotiating policy matters with international and regional financial institutions, promoting the Egyptian economy in local and international forums, and fulfilling any other tasks necessary to accomplish the objectives of the state’s economic policy.