President Abdel Fattah El Sisi - File photo
CAIRO – 15 July 2017: President Abdel Fatah al-Sisi on Saturday discussed with nine ministers the security and economic developments in Egypt.
According to presidential spokesperson Ala’a Yousef, Sisi received updates on Egypt’s economic status amid the approval of the second tranche of the International Monetary Fund’s (IMF) loan on Thursday. The president said that the IMF praised Egypt for its economic reform program and for measures taken to control inflation rates, reduce the budget deficit, and strengthen social protection measures.
Yousef added that the meeting discussed follow-up actions on the implementation of the decision to increase the value of subsidies from LE 21 ($1.16) to LE 50 ($2.76) monthly for each individual enrolled in the program prior to the deadline for updating citizens’ data on July 15. President Sisi also ordered the establishment of a specialized technical committee to review the accuracy and efficiency of the subsidy smart cards system to ensure reaching the groups most need in society.
During the meeting, the president stressed proceeding with efforts to implement the economic reform program, focusing on intensifying price control measures and maintaining coordination among all concerned parties, in order to ensure adequate stock of commodities at appropriate prices and quantities in all governorates and to face cases of exploitation.
Attending the meeting were the prime minister; the governor of the Central Bank of Egypt; and the ministers of defense, foreign affairs, interior, petroleum, justice, civil aviation, finance, water resources and irrigation, supply, and internal trade; as well as the heads of the General Intelligence and the Administrative Control Authority.