In the weekly press conference held yesterday, Prime Minister Dr. Mostafa Madbouly, accompanied by Planning and Economic Development Minister Dr. Rania Al-Mashat, addressed key developments in Egypt’s economic landscape and social initiatives.
Revamped Export Subsidy Program
Dr. Madbouly announced the government’s initiative to reformulate the export subsidy program to bolster national industry and increase local content. The updated program aims to deepen industrialization by incentivizing manufacturers and exporters to progressively enhance the local component in their products. The government has set an ambitious target to raise Egypt’s exports from the current $14 billion to $34 billion over the next five years. Consultations with export councils are scheduled to commence after the Eid al-Fitr holiday, with the new program expected to be implemented in the upcoming fiscal year.
Economic Indicators and Women’s Role
On the other hand, Al-Mashat presented positive economic indicators for the second quarter of the fiscal year, reflecting the economy’s favorable trajectory. Both officials emphasized the pivotal role of Egyptian women across various sectors, highlighting the state’s commitment to empowering women and fostering their participation in the nation’s development.
Petroleum Pricing Reforms
Addressing the topic of petroleum product pricing, Dr. Madbouly outlined the government’s strategy for gradual and studied price adjustments. These measures are designed to align domestic prices with global market rates while mitigating potential negative impacts on consumers. اليوم السابع
The press conference underscored the government’s dedication to economic reform, industrial growth, and social development, aiming to position Egypt on a path toward sustainable prosperity.
