Madbouly said, on the sidelines of the economic conference organized by the Egyptian government, that the government resorted to decisions regarding documentary credits, after the displacement of more than 25 billion dollars in less than a month.
He pointed out that the Egyptian government sought to reduce the pace of the dollar’s exit from the market in order to maintain the country’s stability.
On the other hand, the Prime Minister clarified that Egypt needs a strategy to develop the industry, saying that the conference represents an opportunity for the Egyptian industry to work on setting this strategy.
He stressed the importance of the participation of industrialists in Egypt in setting the strategy, “because they know very clearly what the objectives are and what are the features of this strategy,” as he put it.
The Egyptian government held an economic conference under the title “Egypt 2022 Economic Conference: A Roadmap for a More Competitive Economy”, sponsored and attended by President Abdel Fattah El-Sisi, in the new administrative capital of Cairo, which ran from 23 to 25 October.
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