Prime Minister: The government seeks to reduce public debt despite the challenges of “Corona”

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Madbouly meets with the heads of the “Plan and Budget” and “Constitutional Affairs” committees in the House of Representatives

Dr. Mustafa Madbouly, Prime Minister, said that the government seeks to maintain public debt ratios as stable as possible, and work to reduce them, in light of the economic challenges facing us due to the repercussions of the “Corona” virus.

The Prime Minister continued his meetings with the qualitative committees in the House of Representatives, by holding two successive meetings, the first; It was attended by Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Dr. Mohamed Maait, Minister of Finance, Engineer Ashraf Rashad, Leader of the Parliamentary Majority, Secretary-General of the Nation’s Future Party, and Dr. Fakhry El-Feki, Chairman of the Plan and Budget Committee in the House of Representatives.

At the beginning of the meeting, the Prime Minister affirmed that it came coincidentally with an important timing, as the government presented yesterday to President Abdel Fattah El-Sisi, President of the Republic, the general budget for the next year, which he described as an ambitious plan through which the government aims to continue increasing government spending by pumping more public investment. As well as increasing allocations for social protection, as well as investments directed to the health and education sectors, while working at the same time to achieve a very difficult equation, which is to take into account the achievement of these dimensions when preparing the budget while maintaining public debt ratios as stable as possible, and working to reduce them, In light of the economic challenges facing us all due to the repercussions of the “Corona” virus, and indeed the realization of a primary surplus, the efforts that all global economic institutions have praised.

Dr. Fakhry El-Fiqi, Chairman of the Plan and Budget Committee in the House of Representatives, thanked the government for its keenness to hold these meetings with the parliamentary committees, stressing that the economic reform program implemented by Egypt has achieved its goals and needs to be strengthened through structural reform, to ensure the economy’s ability to face risks. He pointed out that we have come a long way in this file, and we are waiting for more.

The head of the Parliament’s Plan and Budget Committee stressed the need to raise the efficiency and performance of business sector companies, as this would contribute to providing a surplus that would be directed to the general budget, and he also indicated the need to formulate new mechanisms and innovative programs to deal with the problem of overpopulation.

The Minister of Planning and Economic Development explained that the government is working on developing an integrated plan for the development of the Egyptian family, controlling population growth rates, and there are incentives currently being formulated, and she indicated that a program for structural reforms of the Egyptian economy has already been developed, and it has been discussed more than once, at different levels. Several axes, including encouraging the private sector, believing in its role as a main partner in development programs.

Al-Saeed pointed to a number of projects that are currently being implemented, through partnership with the private sector, and added that there is another axis which is to increase the contribution to the real economy sectors, as well as the axis represented in improving the characteristics of the labor market, and this is related to the development of the education system by expanding in universities Technology, as well as interest in vocational training, noting that 25 workshops have been held for specialists and experts, and these meetings will be completed, provided that the structural reform program for the Egyptian economy will soon be launched.

The Prime Minister held the second meeting, in the presence of Counselor Omar Marawan, Minister of Justice, Counselor Alaeddin Fouad, Minister of Parliamentary Affairs, Counselor Ibrahim Al-Huneidi, Chairman of the Legislative and Constitutional Affairs Committee in the House of Representatives, and Engineer Ashraf Rashad, leader of the parliamentary majority, Secretary-General of the “Future of the Nation” party “.

The Prime Minister stressed the need for full coordination between the government and the committee with regard to all draft laws to be discussed, as well as the importance of coordination with the specialized committees in the Council, in order to achieve consensus and understanding regarding these laws.

Counselor Ibrahim Muhammad Al-Hunaidi, Chairman of the Constitutional and Legislative Affairs Committee in the House of Representatives, praised the interest that Dr. Mustafa Madbouly attaches to the necessity of coordination with the Council’s specific committees regarding the various legislations, noting the importance of consensus on the priorities of the draft laws that will be discussed.

The Ministers of Justice and Parliamentary Affairs agreed with what the Prime Minister had proposed, stressing that a legislative agenda and its priorities would be prepared, in preparation for sending it to the Constitutional and Legislative Affairs Committee in the House of Representatives.

The article The Prime Minister: The government seeks to reduce public debt despite the challenges of “Corona”, it was written in Al-Borsa newspaper.