24 December 2012

Egypt: Economic Group - Nation's Economy Has Ability to Grow

The Economic Group confirmed during a meeting presided over by Prime Minister Hisham Qandil at the Cabinet that the Egyptian economy has the ability to grow immediately after the return of stability.

However, the current financial and economic status at high-risk, the Economic Group stressed, adding that an integrated package of economic and social measures is a must taking into consideration the contribution of all community brackets with the exception of low-income brackets.

Any economic procedure will be associated with a social offset provides adequate protection for the poor and low-income brackets.

The ministers of planning and international cooperation, investment, industry and trade, petroleum, electricity and Central Bank of Egypt Governor Farouk al-Oqda attended the meeting.

Following the meeting, Al-Oqda denied that he had submitted his resignation, adding that he is still carrying out his duties.

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