Minister of Finance Mohamed Maait said Friday 05/04/2024 presidential priorities in New Republic announced by President Abdel Fattah al-Sisi will address a new phase in the process of building and developing the comprehensive capabilities of the modern Egyptian state.
The minister said during an open discussion with investors and exporters about the new draft budget 2024-25 the government works with all state agencies to increase resources and enhance economic capabilities, by continuing to pursue financial policies that are more supportive of the localization of industry in Egypt.
“We are committed to advancing the path of expansion in initiatives that support investment in agriculture, industry, communications, information technology, and tourism,” he added.
“At the forefront, we are completing the process of economic structural reforms to reap the fruits of 10 years of achievements by attracting more investments, providing more employment and improving the standard of living of citizens, through continuous work to provide a greater role and space for the private sector for more sustainable economic growth and providing a million job opportunities annually,” he pointed out.
The minister directed his speech to investors and exporters, saying, “We are with you to stimulate production and exports.”
He pointed out that Egyptians share with investors the burden of financing to reduce production costs, stimulate exports, and sustain economic growth, explaining the continuation of the initiative to support the interest of financing facilities stimulating productive sectors in the amount of 120 billion pounds, with an interest rate not exceeding 15%, so that the state’s public treasury will bear about 8 billion pounds of price difference.
