Sisi Meets CBE Governor on Measures to Achieve Economic StabilitySource: www.export-egypt.com 12/30/2015, Location: Africa |
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President Abdel Fattah El Sisi met Governor of the Central Bank of Egypt Tarek Amer who reviewed a CBE program that is aimed at achieving economic stability to stimulate economic growth, increase the local production and create job opportunities.
The program includes measures to reduce the state budget to sustainable levels, maintain price stability and curb the balance of trade deficit, presidential spokesman Alaa Youssef said. During the meeting, the governor reviewed the bank's recent measures to achieve the goals of the program. The CBE has provided 8.3 billion dollars for imports to achieve market stability and secure the market needs of the commodities, Amer said. The bank also covered 1.6 billion dollars of credit facilities to avoid the risks of the exchange rate fluctuations and raised the value of the Egyptian pound by 2.6 percent to curb the speculations on currency, he added. The foreign reserve is stable at 16.4 billion dollars, the CBE governor noted. President Sisi asserted the importance of adopting an approach that stimulates work and investments and taking more measures to advance the Egyptian economy. |
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