President Abdel Fattah El Sisi directed Sunday to keep the national budget on a safe financial and economic path as well as draw up a medium-term strategy that aims at reducing the debt-to-GDP ratio.
Sisi’s instructions came during his meeting with Prime Minister Mustafa Madbouli, Finance Minister Mohamed Maait, Deputy Finance Minister for Fiscal Policies Ahmed Kouchouk, and Deputy Finance Minister for for the Public Treasury Ihab Abu Eish, presidential spokesman Bassam Radi said.
The meeting reviewed the fiscal performance and policies and the status of financial indices, Radi added.
The FY 2021-22 financial performance indices have proven that Egypt has showed resilience against the global economic changes and crises, as it managed to achieve positive results, especially after being among a limited number of countries, which succeeded in achieving a primary surplus of 1.3 percent of GDP, compared to primary deficits seen by other countries.
Source: Egypt Today Magazine