Hassan Abdullah, the Governor of the Central Bank, and Prime Minister Mostafa Madbouly met on Sunday at the Cabinet building in Cairo to go over a number of economic problems.
The meeting covered the key monetary policy indicators as well as the anticipated benefits of the Central Bank’s recent decisions to eliminate the maximum deposit limits for both individuals and businesses in bank branches and ATMs, which were put in place as part of preventative measures to deal with the effects of the Corona pandemic.
The group also discussed a number of suggested actions that would be taken over a certain period of time to address the current economic situation and the effects of the global crisis while ensuring complete integration and coordination of fiscal and monetary policies.
The Central Bank Governor also gave the Prime Minister a briefing on the status of implementing the decision to exempt production and operating costs from the documentary credit system, as well as an overview of the key initiatives taken in this direction to carry out President Abdel Fattah El-orders Sisi’s to support the industry sector.
In order to guarantee the availability of different items in the local markets and the continuation of the cycle of production and the economy, the proposed policies to handle this issue in the future were also considered.
The government’s ongoing initiatives to enhance the business climate, spur private sector growth, and the planned economic objectives for the foreseeable future were also discussed at the conference.
The necessity of ongoing discussions and regular consultations on the necessary economic measures to deal with the current global economic crisis was highlighted after the conference. This is to guarantee that fiscal and monetary policies continue to be in sync.
The Central Bank Governor and the Prime Minister discuss a range of economic files during their meeting.
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