President Sisi directs gov't to reduce public debt, budget deficit

President Abdel Fattah El-Sisi has instructed the government to intensify efforts aimed at achieving economic sustainability by reducing the total budget deficit and the ratio of public debt to gross domestic product (GDP), and increasing productive projects, especially those geared towards export.

 

El-Sisi also directed to continue and enhance efforts to alleviate burdens on citizens, particularly in terms of controlling inflation, with a focus on human development sectors, especially health and education, during the upcoming general budget, according to a statement issued Wednesday by the Presidency.

 

This came during a meeting between President El-Sisi, Prime Minister Mostafa Madbouly, Central Bank Governor Hassan Abdalla, Minister of Planning and Economic Development Hala El-Said, Minister of International Cooperation Rania Al-Mashat, and Finance Minister Mohamed Maait.

 

The President was briefed on the overall economic indicators in light of recent investment and financing measures, economic sector revitalization packages, and investment attraction programs that the government has focused on over the past year.