PM chairs meeting of Coordinating Council for Fiscal and Monetary Policies

The Coordinating Council for Fiscal and Monetary Policies, chaired by Prime Minister Mostafa Madbouly, affirmed during its meeting on Thursday the continuation of a flexible exchange rate system, as well as the implementation of the government’s initial public offerings (IPOs) program and the State Ownership Policy Document with a view to generating additional resources to reduce public debt while maintaining competitive market conditions through the Egyptian Competition Authority.

Held at the government headquarters in New Alamein City in Egypt’s North Coast, the meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan al-Khatib, economic experts, deputy ministers, and senior officials.

The meeting highlighted the government’s successful progress in paying the petroleum sector’s dues to foreign partners according to the set schedule, Cabinet spokesman Mohamed El Homsany said.

The meeting also reviewed the key policies and measures taken under the National Structural Reform Program, which is Egypt’s main tool for turning economic goals into action, the spokesman added.