Sisi directs commitment to implement economic reform program

CAIRO - 31 December 2018: President Abdel Fattah El Sisi has directed committed action to achieve aspired financial and economic targets.

Sisi, in a meeting with Prime Minister Moustafa Madbouli and governor of the Central Bank of Egypt Tareq Amer earlier Sunday, urged commitment to implement Egypt's comprehensive reform program in a way that would improve indexes and enhance world confidence in the ability of the Egyptian economy to grow.

All measures should be taken to implement structural reforms meant to maintain monetary and bank stability, Sisi said, also pressing for coordination among the different bodies concerned to reduce public debt and limit inflation.

The meeting also took up foreign investment in Egypt, which reached some 163.5 billion dollars over the past three years, said presidential spokesman Bassam Radi.

They also discussed an increase in Egyptian bank resources from 8.3 billion dollars to 88.5 billion dollars since the liberalization of the exchange rate, Radi added.