President Abdel Fattah El-Sisi met on Monday with Prime Minister Mostafa Madbouly, Governor of the Central Bank of Egypt (CBE) Tarek Amer, in addition to Ministers of Tourism and Antiquities, Planning and Economic Development, International Cooperation, Finance, Public Business Sector, Civil Aviation, Trade and Industry, as well as Presidential Advisor for Financial Affairs , Deputy Minister of Finance for Financial Policy, and Deputy Governor of the CBE.
Presidential Spokesman Ambassador Bassam Rady stated that the meeting dealt with a review of the repercussions of the novel coronavirus on the economic front, and governmental measures in this regard to deal with it and mitigate its effects on citizens and affected sectors.
With regard to the tourism sector, President El-Sisi directed continuously to work on various projects related to tourism activity, in addition to dropping the real estate tax on hotel and tourist establishments for a period of 6 months, as well as postponing the payment of all dues on tourist and hotel establishments for a period of 3 months without fines or delay benefits.
The President also directed the CBE to study the provision of bank financing for tourist and hotel establishments, so that it is allocated to finance the operational process with a view to retaining employment, with a reduced interest.
In addition, the head of the state gave his directives to raise the efficiency of the infrastructure of tourist facilities, so that they are fully prepared to receive visitors from Egyptians and tourists as soon as the coronavirus crisis recedes.
With regard to the civil aviation sector, the President instructed to provide a support loan for the sector with a grace period of two years.
During the meeting, the President directed to pay 30% of the exporters ’dues with the Export Support Fund, at least 5 million pounds for each source, before the end of the current fiscal year.
The President also directed to allocate a grant for irregular employment affected by the repercussions of the virus crisis of 500 pounds per month for a period of 3 months, in addition to the emergency fund in the Ministry of Manpower immediately starting to take the necessary measures to ensure the disbursement of the salaries of affected regular workers.
The President ordered the speedy construction of 250,000 social housing units, as well as the completion of the construction of 100,000 alternative housing units for residents of unsafe areas.