President Sisi prioritises inflation control, social spending

Egypt’s President Abdel Fattah al-Sisi on Tuesday instructed government officials to prioritise tackling inflation through comprehensive strategies while ensuring public access to essential goods and services.

During a meeting with Prime Minister Moustafa Madbouly and Finance Minister Ahmed Kouchouk, the President stressed the importance of boosting investments in healthcare, education, and social welfare.

The meeting discussed the government’s efforts to meet budget targets, achieve financial stability, and successfully implement development programmes, as reported by the presidential spokesperson. Additionally, these efforts aim to enhance general budget metrics and lower government debt.

The meeting also addressed tax stabilisation mechanisms to boost investment flows in light of rising economic growth rates.

The President was briefed on the government and Ministry of Finance’s progress in implementing presidential directives through a tax facilitation package to enhance governance, service quality, and investor-Tax Authority relations.

Utilising advanced technology is essential for developing the tax system, building trust with businesses, and creating a true development partnership between the State and the private sector.

The spokesperson highlighted that the President has consistently focused on improving the fiscal balance, increasing revenue and investment, and boosting spending on human development sectors. This approach has resulted in better national economic performance, increased business competitiveness, and improved living standards.

Attribution: The Spokesman for the Egyptian Presidency statement 

Sub-Editing: Y.Yasser