Latest news with #CoordinatingCouncilforFiscalandMonetaryPolicies
Egypt Independent
02-08-2025
- Business
- Egypt Independent
PM chairs meeting of Coordinating Council for Fiscal and Monetary Policies
NEW ALAMEIN, Egypt, July 31 (MENA) – The Coordinating Council for Fiscal and Monetary Policies, chaired by Prime Minister Mostafa Madbouly, affirmed during its meeting on Thursday the continuation of a flexible exchange rate system, as well as the implementation of the government's initial public offerings (IPOs) program and the State Ownership Policy Document with a view to generating additional resources to reduce public debt while maintaining competitive market conditions through the Egyptian Competition Authority. Held at the government headquarters in New Alamein City in Egypt's North Coast, the meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning, Economic Development and International Cooperation Rania al-Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan al-Khatib, economic experts, deputy ministers and senior officials. The meeting highlighted the government's successful progress in paying the petroleum sector's dues to foreign partners according to the set schedule, Cabinet spokesman Mohamed El Homsany said. The meeting also reviewed the key policies and measures taken under the National Structural Reform Program, which is Egypt's main tool for turning economic goals into action, the spokesman added. The program focuses on enhancing macroeconomic stability, boosting economic competitiveness, improving the business climate and supporting green transition, he noted. The council also reviewed Egypt's participation in the UN's Fourth International Conference on Financing for Development (FfD4) in Spain's Seville city, where Egypt called for enabling private sector participation, increasing foreign investments in developing countries, improving governance in international financial institutions, expanding Special Drawing Rights (SDRs) allocations for developing nations, strengthening the UN's economic role globally, and updating debt sustainability assessment frameworks, the spokesman said. Egypt had also called during the FfD4 for promoting South-South and trilateral cooperation, defining global public goods, and using innovative financing tools to support small- and medium-sized enterprises (SMEs) and entrepreneurship, according to him. (MENA)
Middle East
01-08-2025
- Business
- Middle East
OPEN// PM chairs meeting of Coordinating Council for Fiscal and Monetary Policies
NEW ALAMEIN, Egypt, July 31 (MENA) - The Coordinating Council for Fiscal and Monetary Policies, chaired by Prime Minister Mostafa Madbouly, affirmed during its meeting on Thursday the continuation of a flexible exchange rate system, as well as the implementation of the government's initial public offerings (IPOs) program and the State Ownership Policy Document with a view to generating additional resources to reduce public debt while maintaining competitive market conditions through the Egyptian Competition Authority. Held at the government headquarters in New Alamein City in Egypt's North Coast, the meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan el Khatib, economic experts, deputy ministers and senior officials. The meeting highlighted the government's successful progress in paying the petroleum sector's dues to foreign partners according to the set schedule, Cabinet spokesman Mohamed El Homsany said. The meeting also reviewed the key policies and measures taken under the National Structural Reform Program, which is Egypt's main tool for turning economic goals into action, the spokesman added. The program focuses on enhancing macroeconomic stability, boosting economic competitiveness, improving the business climate and supporting green transition, he noted. The council also reviewed Egypt's participation in the UN's Fourth International Conference on Financing for Development (FfD4) in Spain's Seville city, where Egypt called for enabling private sector participation, increasing foreign investments in developing countries, improving governance in international financial institutions, expanding Special Drawing Rights (SDRs) allocations for developing nations, strengthening the UN's economic role globally, and updating debt sustainability assessment frameworks, the spokesman said. Egypt had also called during the FfD4 for promoting South-South and trilateral cooperation, defining global public goods, and using innovative financing tools to support small- and medium-sized enterprises (SMEs) and entrepreneurship, according to him. (MENA) I S N/R E E
