Egypt's Prime Minister underscores the pivotal role of production across sectors.
Prime Minister Mostafa Madbouly emphasized the importance of prioritizing production across various sectors, including industry, agriculture, communications, and tourism, during his visit to several factories today.
He highlighted that ensuring sustainable growth and avoiding crises hinges on robust production. "Our future prosperity depends on production. We've identified key sectors like industry, agriculture, communications, and tourism as our top priorities," Madbouly stated.
Madbouly reiterated that production is crucial for addressing the dollar shortage issue, affirming that their focus is on ensuring the sustainability of hard currency reserves, not merely resolving the current crisis. "We're working to ensure the sustainability of foreign currency resources, not just a temporary fix," he added.
Addressing concerns over the dollar crisis, Madbouly mentioned that while some doubted their vision for overcoming the crisis, they have been actively managing the situation. He noted that discussions about deals were inappropriate when negotiations were ongoing. "We're closely monitoring daily dollar flows with the Central Bank Governor. Our goal is to prevent a recurrence of previous crises by ensuring the continuity of dollar resources," Madbouly stated.
The Prime Minister emphasized that increasing local production, deepening it, and boosting exports are essential for securing dollar resources. "Our focus is on all resources that provide dollars, which can only be achieved through increased local production, deepening it, and expanding exports," Madbouly concluded.
