Egypt: PM Says Govt Acting to Maintain Macroeconomic Stability

Prime Minister Moustafa Madbouli has praised the economic reform program adopted by Egypt in 2016, saying it had positive impact on the government's ability to handle economic and social challenges that resulted from the coronavirus pandemic.

The government will, in the coming stage, be working to maintain macroeconomic stability and upgrade the infrastructure, Madbouli said during a meeting Tuesday night with Citi's Vice Chairman of Corporate and Investment Banking Jay Collins.

The meeting focused on means of boosting cooperation between Egypt and Citigroup Inc.

Madbouli told Collins that his government is working to enhance Egypt's regional role as a trade and investment hub, noting that this should be done in cooperation with the private sector.

The premier believes a favorable environment is needed to allow the private sector to effectively contribute to economic growth in Egypt.

It is important to scale up private capital mobilization to help achieve comprehensive growth in the medium term, Madbouli added.

Collins meanwhile said that his group is willing to support Egypt in its efforts for confronting climate change.

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