President Abdel Fattah El-Sisi met on Sunday with governor of the Central Bank of Egypt (CBE), Tariq Amer.
Presidential spokesman, Ambassador Bassam Rady, said that the meeting reviewed the situation of monetary policy and the steps taken by the Central Bank to help implement structural reforms and maintain financial and monetary stability.
Amer pointed out to the positive evaluation of the IMF mission on Egypt’s economic reform program following the recent visit by the IMF mission to Cairo.
The CBE governor also stressed the continuous improvement of the structure of economic growth as consumption rates declined and export rates rose, in addition to the fall of inflation rates in October 2017 for the third consecutive month.
Moreover, the real GDP growth continued to rise at an average of 4.6% in the second half of 2016 / 2017, the highest rate since 2009/2010, coincided with the continued decline in unemployment rates to reach 11.9% in the first quarter of 2017/2018 to record the lowest rate since 2011/2012, and foreign exchange reserves rose to 36.7 billion US dollars to record a historic high.
Ambassador Rady said that President El-Sisi stressed the importance of the continuous efforts to take all necessary measures to continue reducing the public debt and increase the monetary reserve, while taking into account the low income and the most needy groups, while providing the necessary financial resources to provide commodities to citizens and maintain the stability of their prices.