EGP flotation benefits Egyptian economy: Prime Minister

The flotation of the Egyptian pound since December under the new Extended Fund Facility programme with the IMF has benefited the industry sector as it raised the competitiveness of Egyptian products in the global market, Prime Minister Mostafa Madbouly stated on Wednesday.

Madbouly's statements came during a press conference held following a meeting with representatives of  private companies.

 He also noted that Egypt has not fallen behind in paying its financial dues to the international financial institutions.

Madbouly further noted that the government is currently developing a plan to navigate the US dollar shortage the market is suffering from.