Egyptian Gov’t Works to Implement President’s Directives on EconomySource: www.export-egypt.com 10/15/2015, Location: Africa |
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Prime Minister Sherif Ismail asserted that the government is working to implement the assignments of President Abdel Fattah El-Sisi regarding the economic file with the aim of increasing growth rate, decreasing unemployment rate, reducing budget deficit and offering better services to citizens.
Addressing the second Economic Conference of Akhbar Al-Yom Foundation, Ismail said President Sisi assigned the government to work on increasing annual growth rate by 1.5 per cent, reducing budget deficit by 1.5 per cent annually as well as reducing unemployment rates so as to cope up with growth rates. He also said Sisi ordered the government to provide job opportunities in all production and service sectors as well as accomplishing the national mega projects as soon as possible to push the industrial sector, double exportation rates so as to propel the Egyptian economy. The President also ordered more efforts to be exerted to restore tourism rates, reform the public enterprise sector and maximize the use of Egypt's mineral wealth, he added. Sisi also gave directives to the government to expand in the establishment of schools all over the country and introduce better health services to a wider range of the population. In the same vein, Finance Minister Hani Qadri said the government is taking all measures domestically and overseas to overcome the country's budget deficit. "The government is currently negotiating with the World Bank and the African Development Bank to borrow 3.5 billion dollars," the minister said. "Also there are negotiations with the African Development Bank for a 500 million dollars loan," he said. The minister did not rule out the possibility of seeking loans from the International Monetary Fund. |
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