Egypt: Sisi Directs to Keep Up Economic Performance Rates to Ensure Stability

President Abdel Fattah El Sisi directed to keep up the economic performance rates in order to ensure stable monetary and financial conditions in the country.

Sisi's directives came during his meeting with Prime Minister Mustafa Madbouli, Finance Minister Mohamed Maait, Deputy Finance Minister for Fiscal Policies Ahmed Kouchouk, and others, presidential spokesman Bassam Radi said.

Sisi stressed the importance of regularly updating and upgrading the governance mechanisms of the GDP data to accurately monitor the different aspects of the economic development in Egypt.

The president also highlighted the significance of increasing the funds earmarked for the public investments to meet the development targets, listed in Egypt Vision 2023.

The meeting reviewed the economic performance and fundamentals for the fiscal year 2020/2021, which showed that the government has managed to increase its revenues by 12.2 percent to EGP 119 billion, in addition to register primary surplus by 1.4 percent to

EGP 93.1 billion.

The budget deficit was also narrowed to 7.4 percent, down from 8 percent.

MENA

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