Presidential meeting marks start of economic reform, inclusive growth: EDC member

The Economic Development Council (EDC) of the Presidential Office held a successful meeting with President Abdel Fattah Al-Sisi and is the beginning of all-inclusive economic reforms and growth, said council member Mohsen Adel.

The meeting discussed all obstacles hindering the growth of economy, he said, adding that Al-Sisi asked members to think outside the box and to come out with resolutions that would aid economic recovery. These solutions are aimed to cause development within Egypt from which everyone can benefit.

“The council is to launch and develop implementable economic ideas in coordination with government officials to reduce the state budget deficit, fight against poverty and meet the growing demand in a number of the vital sectors of the country, especially the energy, education and health sectors,” said presidential spokesperson Alaa Youssef.

President Al-Sisi said Egypt is facing large and diverse economic challenges which require concerted efforts from everyone, rationalisation of consumption and doubling the work. Put together, these would overcome those challenges and contribute actively to achieve the hopes and aspirations of development sought by the Egyptian people, Youssef said.

Al-Sisi added that reforming the legislative arena controlling the investment atmosphere is necessary to prepare an attractive atmosphere to Arab and foreign investments and settling investment-related disputes, Youssef added.

Council members agreed on the need to adopt a clear approach, Youssef said, to achieve goals of development, economic growth and production increase. This would take into consideration the importance of completing and developing what already exists of economic and legislative basis.

Youssef said that the council works on studying and suggesting economic and production general policies of the country in all fields. This guarantees supporting and developing production capacity, and the good use of the available resources according to scientific and technological methods, whilst studying ways of eliminating all obstacles affecting the process of economic development.

Source : arabfinance