Egypt's Minister of Finance, Mohamed Maait, stated on Saturday that "the Egyptian government is working to take sufficient measures and procedures to safeguard Egypt's economic, financial, and food security, as part of the comprehensive concept of national security." In a statement, he noted that "this comes amid current global and regional challenges, aiming to enhance the state's ability to improve the living conditions of citizens, meet their essential and developmental needs, and elevate the level of public services."
The minister added that "the successive global crises confirm the validity of the Egyptian vision in mobilizing all efforts to maximize the state's capabilities by achieving the strategic goals of agricultural development to provide high-quality products at reasonable prices for citizens, ensuring the preservation of food security and protection from international and regional fluctuations."
He mentioned that "international rating agencies have shown confidence in the future of the Egyptian economy, given the opportunities for promising prospects that have become more encouraging for local and foreign investments, as they positively monitored this new economic path, and we look forward to improving Egypt's rating in 2024."
He explained that the government shares the burdens of financing agricultural and industrial production with investors by continuing the initiative to support interest rates by providing financial facilities amounting to about 120 billion Egyptian pounds (2.54 billion dollars) for these productive activities.
