18 September 2019 01:55 PM

Sisi follows up govt's plan to make use of State's untapped resources

Thursday، 15 November 2018 - 01:53 PM

President Abdel Fattah El Sisi followed up on Wednesday the government’s plan to make use of the State’s untapped resources in addition to work progress at new cities across the country, particularly the New Al-Alamein City.

This took place during Sisi’s meeting with Prime Minister Mostafa Madbouli, Minister of Planning, Monitoring and Administrative Reform Hala el Saeed and head of the General Intelligence Service Abbas Kamel.

On that score, the president issued directives to promptly finalize construction works in New Al-Alamein City in accordance with the timeline set.

The directives come within the framework of the State’s efforts to spur urban development and upgrade the country’s slums to absorb the annual population growth, generate more jobs and serve population redistribution plans, Presidential Spokesman Bassam Rady said in statement.

Meanwhile, the premier reviewed the current status of New Al-Alamein City project in addition to the ‘Maspero Triangle’ development project.

The meeting also tackled the latest developments with regard to setting up Egypt’s sovereign wealth fund, with President Sisi urging the continuity of efforts to finalize the fund's establishment, said the spokesman.

The planning minister reviewed the developments of Egypt’s economic performance, including the economic growth rate that hit 5.3 percent during the 2017/2018 fiscal year and the unemployment rate that fell to 9.9 percent in the same period.

Saeed also revealed that the country’s net foreign currency reserves have surged to $44.4 billion.

In this regard, President Sisi issued directives to proceed with the country’s comprehensive economic and social reform program.

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