Egypt registers first-half primary surplus of EGP 3.2 billion    ITFC approves $2.6 billion financing for Egypt    Hitachi to connect Gulf of Suez wind farm with Egypt national power grid    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    BRICS development bank admits Egypt as new member    Nermien Ismail Schools opens a new campus in O'West    Netherlands Embassy, E7kky Magazine celebrate success of 21 Egyptian women    Women make up 45% of Egyptian Atomic Energy Authority staff    Yas Island hosts travel partners at Formula 1 Etihad Airways Abu Dhabi Grand Prix 2021    Olaf Scholz becomes Germany's new leader, ending Merkel 16-year historic era    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    Brazil calls up 8 EPL players for World Cup qualifying    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's Sisi discusses measures to cope with coronavirus' impact on the economy
Published in Ahram Online on 21 - 03 - 2020

Egypt's President Abdel-Fattah El-Sisi discussed with Prime Minister Mostafa Madbouly on Saturday the measures taken by the government to cope with the repercussions of the coronavirus pandemic, especially the financial needs of different state bodies to deal with the ongoing developments.
The president directed the government to support the neediest in the country and those with irregular employment, presidency spokesman Bassam Rady said in a statement.
The meeting was attended by Finance Minister Mohamed Maait, Solidarity Minister Niveen El-Qabbaj, and the president's financial affairs advisor Mohamed Amin.
Last week, President El-Sisi instructed the government to allocate EGP 100 billion to finance a “comprehensive plan” to stop the spread of the virus.
In another meeting with governor of the Central Bank of Egypt (CBE) Tarek Amer, the president instructed the CBE governor to take all necessary measures to maintain economic and monetary stability, and to supply the necessary resources to support the social protection system, taking into consideration the neediest groups.
The meeting dealt with the overall performance of the Egyptian economy and the bank's monetary policy in light of the recent international developments concerning the novel coronavirus.
According to the presidency spokesman, the CBE governor reviewed the decisions and initiatives taken by the bank to contain the impacts of the fast-spreading virus and to stimulate the economy, including financing small-sized projects and supporting a number of sectors such as industry and services.
Amer also reviewed the developments and indicators of the financial position of the CBE.
Earlier, the CBE announced a number of procedures to support the national economy in the current phase, including raising daily transaction limits on credit cards as well as cancelling fees and commissions applied at points of sale and on withdrawals from ATMs for six months.
It also instructed banks to postpone credit dues for individual debts, including real estate loans and loans for consumer purposes for six months with no fines or deposits in case of late payment.
Egypt reported and 29 new coronavirus cases one new death on Friday, bringing the total to 285 cases nationwide, according to a statement by the health ministry.
The virus has hit dozens of countries around the world, killing over 12,800 people and infecting more than 300,000.


Clic here to read the story from its source.