Egypt restructures the general budget to deal with the current global situation
Today, Tuesday, Egyptian Prime Minister Mostafa Madbouly chaired the council's weekly meeting, where a number of important work files are discussed and reviewed.
The Prime Minister began the meeting by reviewing the repercussions of the Russian-Ukrainian crisis on the global economy, and its repercussions on the Egyptian economic situation, pointing to the various measures taken by the Egyptian state to deal with these repercussions, especially with regard to the rise in the global price level, to alleviate its impact on citizens, explaining that The procedures include efforts to provide basic commodities in appropriate quantities and prices, and to expand the establishment of exhibitions and various outlets at the level of the Republic, in order to meet the citizens' requirements for those commodities.
The Prime Minister explained that in light of the current global conditions and the successive economic changes we are witnessing, coordination has been made with the Minister of Finance, to work on restructuring the state’s general budget for the next fiscal year, in line with the developments of the crisis, and to develop solutions and expectations to deal with the most pessimistic scenarios, To mitigate its severity, he stressed that the priority will be to provide social protection programs that target the most vulnerable groups, in addition to taking what is necessary to achieve full financial discipline in spending, and even austerity in a number of matters, with prioritization, so that the picture becomes clear in the coming period, and passes This crisis, stressing in this regard the need for each minister to review aspects of spending in his ministry in the coming period by himself.
Dr. Mostafa Madbouly noted the meeting of the Committee to Confront the Impact of the Global Crisis on Strategic Commodities, which was held yesterday, reiterating that our first priorities now are to follow up on the availability of basic commodities and food products in the markets, the regular work of factories producing those foodstuffs, and the continuation of efforts related to controlling prices and markets. To ensure that no negative practices are allowed, such as concealing or monopolizing goods, and dealing with these practices firmly and decisively.
The Prime Minister called for studying extending the period of the exhibitions of selling various commodities held on the occasion of the advent of the holy month of Ramadan, for a longer period, in support of the different segments and their obtaining all their requirements of commodities at the appropriate prices, with an integrated vision in this regard next week.
Follow our latest local and sports news and the latest political and economic developments via Google news