The Prime Minister chairs the meeting of the Ministerial Committee for Managing External Debt and Regulating Borrowing
Dr. Mostafa Madbouly, Prime Minister, chaired today the second meeting of the Ministerial Committee for Managing External Public Debt and Regulating Borrowing, in the presence of Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, and Yasser Al-Mashat. Sobhi, Deputy Minister of Finance for Financial Policies, Rami Abul Naga, Deputy Governor of the Central Bank, Ghadeer Hegazy, Assistant Minister of Planning and International Cooperation for Arab Funds, and Ghada Nour, Assistant Minister of Investment for IPOs, And officials of ministries and concerned authorities.
The Prime Minister began the meeting by confirming the committee’s commitment to achieving the government’s goals regarding the sustainability of the downward path of external debt, while maintaining this approach in the medium and long term, in addition to the Egyptian state’s commitment to fulfilling the payment of installments. Debts due on time, and working to attract new foreign investments to provide alternative financing sources for various projects.
He stated Counselor/Mohamed Al-Homsani, the official spokesman for the Presidency of the Council of Ministers, said that the meeting addressed a number of topics related to the management and organization of external debt, as well as the standards governing foreign loans.
During the meeting, she indicated The Minister of Planning and Economic Development called for continuing to take strict measures to govern public investments, and to rearrange the priorities of the development plan, ensuring that available resources are directed towards priority projects with the greatest development impact. This aims to achieve the required balance between maintaining the specified investment spending ceiling, reducing dependence on external loans, and strengthening partnerships with the private sector. To increase financing for sustainable development projects.
At the same time, Dr. Rania Al-Mashat affirmed the government’s commitment to implementing the economic and social development plan according to an integrated methodology that focuses on improving spending efficiency and enhancing financial sustainability, including It supports comprehensive development goals and confronts current economic challenges, pointing out that the government is making great efforts to achieve the goals of reducing debt levels from the gross domestic product, in parallel with working to pump new investments.
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