Madbouly quashes state's intentions to sell Egyptian airports
Updated 8/11/2024 6:57:00 AM
Arab Finance: Egyptian Prime Minister Mostafa Madbouly has firmly denied rumors regarding the government’s intention to sell its airports, as per a statement.
Speaking at a recent press conference, Madbouly emphasized that the government’s focus is on enhancing the management and efficiency of Egyptian airports through partnerships with international firms, not selling them.
The Prime Minister addressed the resurgence of speculation about economic instability, particularly concerns about a potential rise in the USD against the EGP, noting that the recent increase in the exchange rate of the USD is due to market liquidity.
He reaffirmed Egypt’s stable economic situation and its ability to manage economic shocks effectively.
Madbouly assured the public that foreign currency resources are available for production and raw materials, and ongoing efforts are being made to resolve drug shortages and support exporters with a new program set to launch soon.
In addition, he detailed a plan to improve the investment climate, including the development of a new tax policy document aimed at simplifying tax procedures for investors.
This policy will be presented soon and is designed to resolve tax disputes and facilitate clearer tax calculations.
On economic development, Madbouly outlined ongoing efforts to boost national industry and exports.
He also mentioned that a comprehensive strategy for industrial development through 2030 has been presented to President Abdel Fattah El-Sisi.
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