Sisi: Egypt’s Vision Depends On Free Economy, Taking Into Account Low-Income Brackets

President Abdel Fattah El Sisi said that Egypt adopts an economic vision depending on the free market policy, which puts into consideration the basic needs of the low-income brackets.

The president made the remarks during an Iftar banquet held on Sunday 13/7/2014 at the presidential palace in Heliopolis, which was attended by a host of Businessmen and private sector figures working in various fields.

In statements on Monday 15/7/2014, presidential Spokesman Ihab Badawi said that Sisi asserted during his meeting with Businessmen over the Iftar banquet that the free economy policy aims at improving the conditions of the low-income people and maximizing their resources.

The meeting tackled the internal situation, especially the economic conditions and Egypt’s investment needs, the Spokesman said.

Sisi said that the state pays great attention to the private sector so that it can do its development role.

A presidential decree is being activated to form a legislative reform panel to review and amend 60,000 legislations, some of which date back to 1920, Sisi said during the meeting.

The president urged Businessmen to seek improving the conditions of their employees with regard to social and health insurance.

He called for maximizing the use of the country’s resources to stop depending on foreign aid.

Source : sis.gov