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CAIRO, July 3, 2018 (MENA) - Mirza Hassan, executive director and dean of the board of executive directors at World Bank Group, lauded the economic progress realized by Egypt, considering the economic reform in Egypt as a "story of success."

He said Egypt's recently-issued legislation contributed to improving the investment climate.

The bank underlined keenness on offering all needed support for Egypt's efforts for economic and social reform.

He made the remarks during a meeting on Tuesday with Investment and International Cooperation Minister Sahar Nasr. The meeting came during his current visit to Cairo which falls within the framework of following up the development programs being implemented in Egypt in tandem with the World Bank.

Talks between the two sides tackled means of boosting the bank's support for national education, health and social protection programs as well as reconstruction projects in Sinai.

Nasr praised the bank for extending about dlrs 500 million for developing the national educational strategy and dlrs 530 million for upgrading the health sector.

Hassan said the bank decided to support these sectors in view of the reform measures taken by Egypt in this respect.

Staff report:

CAIRO, June 27, 2018 - Prime Minister Dr Moustafa Madbouli emphasised Wednesday that President Abdel Fattah El Sisi’s directives to the government are clear in stressing that the Egyptian citizen be enabled to see positive effects of the economic reforms and witness swift improvement in a number of key files, including in the foremost urban cleanliness, traffic, continuous police presence, the improvement of services offered at hospitals and the availability of various goods at appropriate prices.

The presidential directives to the ministers in charge of these files were to see to it that the citizen can feel swift and quality improvement in all such files, Prime Minister Madbouli told the weekly session of the cabinet Wednesday.

Wednesday’s session featured a review of a number of files and service and developmental issues of concern to citizens.  In the course of the review, Prime Minister Madbouli expressed thanks to citizens for having shouldered the consequences of economic reform.

Stressing that Egypt is a state of institutions, Dr Madbouli said that the present government would emphasise in the programme it will submit to the parliament that it would pursue the action plans and the programmes that had been started by the Sherif Ismail government.

During Wednesday’s session, the cabinet discussed the framework for the programme to be presented to the parliament for consideration.

The highlights of the programme would include abidance by constitutional obligations and implementing the presidential directives that include in the foremost protecting national security, building the Egyptian citizen, achieving economic development, lifting the efficiency of the government machinery and improving the living conditions of citizens.

The programme would also present the government’s planned action for the realisation of the goals of sustainable development, fulfilling the targets of the four-year plan 2022 and fulfilling pressing demands especially insofar as addressing the consequences of the reform programme, pushing forward economic growth and emphasis on employment and social justice.

Economic reforms augur well

By Ashraf Sadek:

President Abdel Fattah El Sisi on Wednesday stressed the importance of continuing the government’s efforts to give a boost to the economy and preserve monetary stability.

President Sisi also called on the government to provide the credit facilities deemed necessary for meeting the needs of various sectors; particularly with regard to social protection nets and programmes, since such support helps alleviate the economic burden borne by the neediest segments and limited-income citizens.

President Sisi’s issued his directives at a meeting he called Wednesday with Central Bank of Egypt (CBE) Governor Tarek Amer to review the latest developments pertaining to the economic reforms, which the government launched two years ago, Presidency Spokesman Ambassador Bassam Radi said.

During the meeting, Governor Amer briefed the president on the present economic and monetary scenes, which indicated a positive outlook for the Egyptian economy.

Governor Amer said that the reforms, which included adopting economic restructuring policies and liberalising the exchange rates, had resulted in an unprecedented rise in the country’s foreign reserves, Ambassador Radi said. President Sisi stressed the need to pursue the efforts aimed at expanding social protection networks, Ambassador Radi said. President Sisi also stressed the need to continue with plans to develop the systems applied by the banking sector and affiliated bodies so as to improve the services provided to citizens, Spokesman Radi added.

Governor Amer said that there were more than 17 million people benefitting from the services that were being offered by the banks and post offices across the nation. He said that the CBE would launch a set of plans for increasing the number of bank users nationwide.