Dr. Mostafa Madbouly, Prime Minister of Egypt, was eager to engage in dialogue with the young people attending the Third Logos Youth Forum 2022, and met with them today at the government headquarters in El Alamein, with the honour of His Holiness Pope Tawadros II, Pope of Alexandria and Patriarch of the See of St. Mark.
Mark; in the presence of Ambassador Suha Gendy, Minister of State for Immigration and Egyptians Abroad, as well as other bishops and priests
To answer a young man’s question about Egypt’s current economic situation, the Prime Minister reviewed the most important economic files that the government is working on, explaining that Egypt had adopted the economic reform programme and achieved great growth rates as a result of it if not for the Corona crises and the Russian-Ukrainian war.
Dr.
Mostafa Madbouly indicated that the government is nearing the end of final discussions on more IMF financing, and that the Egyptian state provides financial help to 4 million homes (representing 16-20 million people) under the Solidarity and Dignity programme. One million more households have been added to the programme.
He went on to say that Egypt is one of the few countries that still provides food and commodity subsidies, and in this context, the government produces 270 million subsidised loaves of bread per day, the cost of one loaf is 80 piasters, the state subsidises it with 75 piasters, and the cost to the citizen is only 5 piasters, indicating that the Egyptian state bears 230 million pounds per day, the value of subsidising bread.
He also added that the Egyptian government is putting in place a number of low- and middle-income housing plans at low cost and with simple financing. He also added that the Egyptian government is working closely with the Central Bank to handle the global inflation crisis, with the goal of resolving it within the next few months.
Madbouly: The government is nearly finished with final discussions for new IMF financing.
About Author
