Sisi Directs To Prioritize Job-Creating InvestmentsSource: www.export-egypt.com 10/27/2019, Location: Africa |
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President Abdel Fattah El Sisi has ordered to prioritize job-creating investments, particularly for youths.
Sisi on Saturday had a meeting with Prime Minister Mostafa Madbouli, Planning Minister Hala el Saeed and Finance Minister Mohamed Maait, among others. The president directed to focus on development of laborers and improvement of production, especially in the fields of modern technology and communication. The meeting touched upon developments of macroeconomics, Presidential Spokesman Bassam Rady said in a statement. El Saeed pointed out that the GDP of the 2018/2019 fiscal year achieved growth rate of 5.6%; the best in 11 years, despite the slowdown of global economy growth rate. The minister of planning reiterated that exports and investments have contributed by 80% to that growth, noting that the unemployment rate dropped from 13.4% in 2013 to 7.5% in the second half of the current year. Rady said the meeting reviewed the development of taxation system and the strategy of the state’s sovereign wealth fund. Sisi ordered to activate the fund’s role through making partnership with the private sector and providing investment opportunities to create job openings and raise living standards of citizens, Rady added. |
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