Egyptian Economic Conference 2022’s recommendations.. most notably reducing debt ratio, issuing pound index – Egypt Today

Egyptian Economic Conference 2022’s recommendations.. most notably reducing debt ratio, issuing pound index – Egypt Today

CAIRO – 25 October 2022: The activities of the third day of the Egyptian Economic Conference ended in the presence of President Abdel Fattah El-Sisi, Prime Minister, Mostafa Madbouli and a number of government ministers and businessmen.

The closing session of the conference witnessed the announcement of the important recommendations that the conference reached, based on the opinions and contributions of experts and specialists who participated in the conference sessions during its three days. They were announced by Diaa Rashwan, the Syndicate of Journalists and the General Coordinator of the National Dialogue.

Egypt Today (ET) reviews that the most prominent recommendation issued during the conference:

• Decreasing the debt-to-GDP ratio, in addition to continuing an initial surplus to enhance the state's ability to pay its obligations.

• Reaching an immediate agreement with the international monetary fund (IMF)

• The importance of having a flexible exchange rate to reflect market dynamics of supply and demand as a tool to absorb external shocks.

• Issuance of a currency index for the Egyptian pound based upon the currencies of major trade partners and gold

• Enhancing private sector contributions by prioritizing exiting through initial public offering (IPO) of stocks in order to expand ownership base

• Transferring the ownership of several