Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Minister of Finance, Ahmed Kouchouk, to follow-up on the financial performance indicators of the general budget.
Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the meeting discussed the government’s efforts to implement the budget targets and achieve a fiscal balance, while continuing the implementation of development programs. This aims to bolster the competitiveness of the national economy and improve productivity so as to achieve higher growth rates, enhance the indicators of the general budget and reduce government debt.
President El-Sisi placed high priority on continuing intensive efforts to curb inflation, through integrated and consistent programs and policies. He confirmed that this shall take place while ensuring the availability of goods and services in the markets for the citizens, and continuing to increase spending on health, education, and social protection sectors. The President also stressed the need to enhance the quality of services provided in these sectors to the citizens.
The meeting also focused on mechanisms to achieve tax stability in order to spur investment flows as part of efforts to boost economic growth rates. President El-Sisi was briefed on efforts by the government and the Ministry of Finance to implement the presidential directives to prepare a comprehensive package of tax incentives to govern and improve the services as well as the relationship between investors and the tax authority. These measures primarily include maximizing the utilization of the advanced technological infrastructure to improve the tax system and realize tangible progress in terms of enhancing the confidence with the business community and building a genuine development partnership between the state and the private sector.
President El-Sisi also gave directives to continue efforts to tighten the fiscal balance of the general budget, increase state revenues and invest them optimally, while focusing on enhancing spending on human development sectors. This would reflect positively on improving the performance of the national economy, the competitiveness of the business community, and the standard of living.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.