Egypt pushes to resolve state financial entanglements

Egypt’s Prime Minister Moustafa Madbouly has chaired a meeting to follow up on efforts to resolve long-standing financial overlaps between the National Investment Bank (NIB) and several government entities, as part of a broader push to enhance economic efficiency.

During the meeting on Monday, Madbouly stressed the importance of continuing efforts to untangle financial interlinkages among ministries, entities, and government bodies, noting that doing so would improve financial performance and have a positive impact on various sectors of the national economy.

Moreover the meeting reviewed current measures to resolve these entanglements, which have accumulated over the years and contributed to structural distortions. The discussions form part of a wider framework of economic reforms.

The meeting also covered the proposed strategy for the NIB and progress in implementing a debt settlement protocol between the bank and Egypt Post, which aims to clear long-standing financial obligations between the two sides.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama