The statement attributed to the Director of the International Monetary Fund regarding a new float of the pound dating back to last January
There are no postponed requests in banks, and the movement of foreign exchange and the state’s needs are proceeding very regularly
Dr. Mostafa Madbouly, Prime Minister, began the weekly press conference, today, by welcoming Journalists and media professionals who attended the conference held at the government headquarters in the New Administrative Capital, noting the participation of the Minister of Petroleum and Mineral Resources during the press conference.
Dr. Mostafa Madbouly began his speech by pointing out that the second part of today’s press conference is in implementation of a previous promise, It will include a presentation by the Minister of Petroleum and Mineral Resources, in light of the agreements that were signed today and the presence of a number of representatives of international companies present at the conference today, to present the details of what is happening in this important sector and the state’s movements in this regard to get out of the challenges that we faced during the previous period, as well as Presenting our vision for this sector during the coming period by pumping more investments and increasing productivity, and as an opportunity to reassure citizens about the future of this important sector, which represents a large and essential part of the Egyptian state’s economy in light of the challenges we face.
The Prime Minister continued. , saying: During this week, President Abdel Fattah El-Sisi, the President of the Republic, will attend the BRICS summit, which is the first meeting attended by Egypt after officially joining this very important gathering, and we have all followed the important messages delivered by Mr. President, his directives in this regard, and his full clarification of the crisis that is going through. in the world currently, and the extreme importance of such types of alliances for emerging and developing countries, as well as the importance of bilateral partnerships between BRICS member states, and cooperation among them to overcome the unprecedented challenges facing the world today.
Dr. Mostafa Madbouly added: This week also included the holding of a very important conference, the World Conference on Health and Population, which witnessed Egypt obtaining the golden certificate for being free of malaria. It is the result of an unprecedented effort, thanks to God Almighty, from the Egyptian state, and comes after another effort witnessed by the organization and the whole world, which is the judiciary. On Hepatitis C, which reflects the amount of effort that the Egyptian state has made, and is still making, to develop this important sector that affects human development, which is the health sector.
The Prime Minister, in this regard, pointed to the visit he recently made to the Governorate. Minya, and the inspection it included of both Samalout Hospital and Adwa Hospital, and the volume of advanced medical services provided to the citizens of the governorate, indicating that this is a model for the various governorates of the Republic, of the movements being made regarding this important sector, saying: We still have a way to go… and we have a way to go. An integrated vision and there are more efforts being made to gradually enter the governorates of the Republic into the comprehensive health insurance system.
Dr. Mostafa Madbouly pointed out that President Abdel Fattah El-Sisi, President of the Republic, spoke during the conference clearly about the state’s progress. Egyptian government over the past ten years, and what was the vision for building the state and focusing on implementing large projects, aimed at building the Egyptian human being, including advanced infrastructure projects, pointing in this regard to the presentation made by the Deputy Prime Minister for Human Development, Minister of Health and Population, It includes a review of the experiences and trends of a number of countries in which there has been a major boom during the past periods, and an emphasis on the importance of building the state’s infrastructure, so that it is a prelude to various comprehensive development processes, most important of which is the file of human building.
The Prime Minister noted The President of the Republic said during his speech that despite the various challenges, the Egyptian state succeeded in reducing the unemployment rate to its lowest levels, within the limits of 6.5%, despite the population increase of about 25 million people from 2011 until now. The Prime Minister affirmed that the Egyptian state, despite the challenges, is also continuing its path with regard to economic reform, as well as achieving the comprehensive development targeted for the state. In various sectors.
The Prime Minister noted the message sent by President Abdel Fattah El-Sisi to the government about the importance of reviewing the program’s objectives with the International Monetary Fund, in light of the current rapid changes, stressing that this program was prepared in the midst of circumstances and challenges. Following the outbreak of the Russian-Ukrainian crisis, he pointed out that the program included many specific targets and specific timings, according to these circumstances, saying: There were many unprecedented successive events facing the region in general, whether related to the war in Gaza, and otherwise, which led to He pointed to the decline in income from the Suez Canal, which had direct effects on the Egyptian state, saying: We are currently reviewing the timing and targets of the program with the Fund.
Dr. Mostafa Madbouly indicated that the Ministerial Economic Group is currently in Washington; To attend the annual meetings of the International Monetary Fund in the presence of the Governor of the Central Bank, and after that there will be the fourth review by the IMF mission of the program with Egypt, pointing out that the review mechanisms are our goal. With time, we see developments, and we discuss with the mission what is consistent with the Egyptian interest, especially with regard to the goal of Economic growth, in addition to reducing the social impacts on the Egyptian citizen in this regard.
The Prime Minister drew attention to the rumors and rumors being circulated about a statement attributed to the Director of the International Monetary Fund as if it had been issued recently by her, with regard to the fact that Egypt must To re-liberate the exchange rate again, and to create a new float for the Egyptian pound, while this statement dates back to last January, before the economic reforms carried out by the government, indicating that the opposite is what is happening. In all its recent statements, the IMF praises the monetary policy pursued by the Egyptian state, and that Egypt is on the right track in this regard.
In this context, Dr. Mostafa Madbouly confirmed that the movement of foreign exchange and the needs of the Egyptian state are progressing. Very regularly and there is no delay, with regard to production requirements, raw materials and all the basic needs of the state, and there are no postponed requests in the banks. Things are stable and there is daily follow-up with the economic group and the governor of the Central Bank, and we also follow the market movement.< /p>
At the same time, the Prime Minister denied rumors about obligations and the payment of interest and debt installments, stressing that the state is never late in paying a single installment, even as it goes through difficult circumstances and challenges. We have a clear vision that we follow in accordance with its specifications and set We keep the market movement in mind, as well as the needs of the private sector, so there is no reason for such rumours.
Dr. Mostafa Madbouly added: We search on a weekly basis for different mechanisms to attract more investments, and within the framework of this week a meeting was held. It is very important to discuss the law establishing financial and business zones in Egypt, which the government is putting the final touches on, stressing that the final vision of the law is nearing completion, similar to the zones that are established in developed countries, or emerging countries that aim to attract more foreign direct investments, explaining This law is to create opportunities in geographically specific areas, through flexible and outside-the-box mechanisms in accordance with global trends, as it attracts international companies to establish projects and headquarters, and engage in financial and economic activities in these areas. Therefore, the Egyptian government is keen to complete this law before the end of 2024. It will be presented to Parliament, and it will play an important role in contributing to attracting foreign direct investment in a large way to Egypt during the coming period. We are also working with all international institutions, business associations, and partners, whether the European Union through the Investment Conference, or with Britain through having a vision for organizing A similar investment conference, and also with a number of other countries during the coming period, in order to attract and encourage countries and companies to pump more investments into Egypt.
The Prime Minister indicated, during his speech, to the pharmaceutical sector in Egypt, and that a meeting had been held. In this regard this week in the presence of the Deputy Prime Minister for Human Development, the Minister of Health and Population, the Chairman of the Unified Purchasing Authority, and the Chairman of the Medicines Authority, adding that by following the reactions of citizens in the street, we can announce the end of the crisis by 95%, which is the percentage before Medicine crisis, adding that it is possible that there is a shortage of a specific type of medicine or two types of medicine, which was happening before the crisis, and this is a matter that the state is dealing with with all its relevant agencies, stressing that the state is continuing to pump all financial obligations to all private sector producing companies. For medicines, to create the required reserve without affecting the wheel of production.
The Prime Minister continued, saying: There is another very important announcement, which is the announcement of the Ministry of Housing, Utilities and Urban Communities about launching a new phase “Housing for All Egyptians.” With a number approaching 80 thousand housing units, this is a very important program that I am honored and proud to have in the New Republic, and during which we succeeded in reaching one million housing units, in addition to 300 thousand other units for unsafe areas, and I am talking here about social housing that meets the requirements of youth groups. And low-income and middle-income people, and today we are witnessing a new phase of this important program, which includes approximately 80 thousand units, part of which has already been completed, and the other part is under construction, and thus we announce the available units, and once the procedures are completed, citizens will be able to receive them during the coming period, willingly. God.
Dr. Mustafa Madbouly added: Before concluding my speech, I would like to refer to the visit to Minya Governorate, and say: There is no longer a place in Egypt that the Egyptian state has not extended a hand to develop and improve. Today, thanks to God, the project has become a " A decent life It is present in all villages and governorates, especially remote or distant ones that have not previously been extended to development. Health projects also occupy the first place today. In addition to my visit to Minya, there was a visit to a number of schools in the Kardasa region in Giza Governorate, and everyone knows how this region suffered from high densities. In classrooms that reached more than 120 people per class, they were suffering from very big problems and challenges. Today, with the new system that was implemented, the average density does not exceed 50 people per class, which is a very big shift, and we are continuing the process of developing the educational system. During the coming period.
The Prime Minister moved on to talk about the higher education file, saying: There was a meeting with the Minister of Higher Education to review the numbers of the great boom that has been achieved in universities. Today we have 112 universities operating in Egypt. Of these, 28 are public universities, and the rest are private, international, private universities, and higher institutes. What is pleasing is that these facilities received more than a million male and female university students this year. In the past, a portion of the students could not find a place for university in Egypt and resorted to traveling to some other country. Today, thanks to God, with these facilities, we have the capacity to accommodate one million students.
The Prime Minister continued, saying: The important thing in a sector such as the medical sector and doctors, I would like to point out that the number of batches in medical colleges in public and private universities has not It used to exceed 9 thousand students annually, while this year witnessed the enrollment of about 29 thousand students in medical colleges at the level of public and private universities, and this is a good and important thing for this sector, so that it meets its needs from the shortage of doctors that we have been suffering from during the past periods, and at the same time when they go To work abroad, they understand Egypt’s soft power, pointing out that more than 60% of this number (one million students applying to universities) have begun to move towards enrolling in scientific colleges and colleges specialized in communications and information technology, in addition to applied and technological colleges, which is a praiseworthy matter, in contrast to the previous composition of the distribution of students. On colleges; About 70% of students used to enroll in theoretical colleges, and today the majority of them are moving towards specializations that meet the labor market, which is a very important qualitative change in the education system, as well as the system of training and qualifying human resources for our youth during the coming period.
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