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President Al-Sisi stresses need for containing economic consequences of COVID-19 - Daily News Egypt

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President Al-Sisi stresses need for containing economic consequences of COVID-19

Egyptian President reviews banking, monetary systems updates with CBE Governor, Prime Minister

Egypt’s President Abdel Fattah Al-Sisi has stressed the need to contain the economic repercussions of the novel coronavirus (COVID-19) pandemic during a high-level meeting on Saturday.

At the meeting, the President reviewed the Central Bank of Egypt’s (CBE) efforts regarding the country’s banking and monetary system activities. Also in attendance at the meeting were Prime Minister Mostafa Madbouly and CBE Governor Tarek Amer.

According to a statement from Presidency Spokesperson Bassam Rady, Al-Sisi directed for the continued implementation of measures that improve economic indicators. These measures would also aim to maintain monetary and banking stability in coordination with the concerned state agencies.

Amer reviewed the CBE’s initiatives to support the Egyptian economy in the battle against the coronavirus, aiming at helping companies to overcome these conditions and maintain their financial solvency and employment capabilities. 

The CBE is also working to provide all the needs of the government sector to finance the development process.

Moreover, Amer also briefed the President on the Egyptian banking system’s efforts to participate in economic development, as well as to govern banking performance and raise investment levels. 

He noted that the CBE is exerting its efforts to improve the services provided to citizens and reduce its cost through electronic payments.

Meanwhile, President Al-Sisi held another meeting with Madbouly and Sherif Ismail, the adviser to the president for national and strategic projects, to follow up on implementation progress of public, private, and technological universities and research centres.

Amer also attended the meeting, along with: Khaled Abdel Ghaffar, Minister of Higher Education and Scientific Research; Mohamed Maait, Minister of Finance; General Amir Sayed Ahmed, the adviser to the president for urban planning; General Mohamed Amin, the adviser to the president for financial affairs; and Ehab Al-Far, Chairperson of the Engineering Authority of the Armed Forces.

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