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Prime Minister Dr. Mustafa Madbouly issued a decision on the composition and competences of the Ministerial Economic Group. The decision stipulates that the Ministerial Economic Group is chaired by the Prime Minister and includes: the Central Governor. The Central Bank of Egypt, the Minister of Planning, Economic Development and International Cooperation, and the Minister of Finance “will serve as rapporteurs and represent the Ministerial Group as its official spokesperson”, the Minister of Supply and Internal Trade, and the Minister of Investment and Foreign Trade, but the Ministerial Group will meet once a week and invite to its meetings anytime it deems appropriate, and may seek help from those it deems experienced, as needed.
The decision stipulates that the Ministerial Economic Group shall be responsible for developing the overall framework of the country’s economic and financial policy and the direction of its various axes in order to contribute to stimulating growth and employment rates while achieving fiscal sustainability and economic stability in different time frames, studying and researching all economic and financial issues involved, expressing opinions and, if necessary, developing the necessary recommendations and relevant legislation.
The terms of reference of the Ministerial Economic Group also include reviewing Egypt’s economic indicators on a quarterly basis and formulating the necessary recommendations and proposals to ensure the improvement of these indicators and ensure their implementation.
The decision also stipulates that the group, based on the assessment of the situation and with the approval of the Prime Minister, may make the necessary decisions, including the identification of priority structural reform measures and the proposal of necessary policies to address the challenges facing the Egyptian economy and its security, taking into account the emergency situation. In addition to this, the Ministerial Economic Group coordinates with other ministerial groups and committees to ensure the consistency of economic, social and sectoral policies and their directions, and communicates with local political, economic and social circles to ensure the consistency of economic, social and sectoral policies and their directions. Articulate the vision of the Egyptian economy, the direction of economic policies, and inspire public opinion and the success of state institutions. In addition to communicating with the international community, including policy-level negotiations with international and regional financial institutions, promoting the Egyptian economy in various local and international forums, and performing any other tasks required to achieve the goals of the state’s economic policies.
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