22 September 2018 09:33 PM

PM: Financial inclusion top priority for Egyptian gov't

Thursday، 14 September 2017 - 02:55 PM

Prime Minister Sherif Ismail said the international financial inclusion conference in Sharm El Sheikh is meant to entrench the financial inclusion concept and draw up reform policies to realize high economic growth rates and raise people's standards of living.

Addressing the 9th international financial inclusion conference on Thursday 14/9/2017, he hailed President Abdel Fattah El Sisi's participation in the two-day event.

He commended the president's unlimited support for economic reform policies.

The premier also thanked the Alliance for Financial Inclusion (AFI) for holding the conference in Egypt.

The conference is held at a time when Egypt is implementing an all-out economic reform program aiming at realizing stability and comprehensive development, he said.

He underlined that financial inclusion became one of main priorities of the government, stressing that Egypt will take into consideration the recommendations to be issued by the conference.

The prime minister noted that the economic growth rate reached 4.2 percent in 2016-2017 despite of the challenges besetting the country.

He added that the unemployment rate dropped to 11.9 percent in the last quarter of 2016-2017 against 12.6 percent in 2016.

Thanks to the economic reform program spearheaded in 2016, hard currency reserves rose to 36 billion dollars, he said, adding that initial indicators show a drop in budget deficit by 1.8 percent.

He noted that business performance indicator in Egypt improved.

He referred to the achievement realized over carrying out the economic reform program, including establishing the National Council of Payments under Sisi's chairmanship.

He added that the Social Solidarity Ministry exerted strenuous efforts to alleviate people's burdens, especially through Takaful and Karama social safety nets program.

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