Sisi approves new import procedures in Egypt .. a return to the collection of documents

Today, Tuesday, Egyptian President Abdel Fattah El-Sisi ordered, today, Tuesday, to exclude production needs and materials prime from the procedures recently applied to the import process, returning to the old system through the collection documents.

He also directed the formation of a working group chaired by the Prime Minister, with the participation of the Governor of the Central Bank, the Minister of Finance, the Minister of Commerce and Industry, and other competent authorities, to follow and periodically evaluate the system of import procedures and measurement in which meet the needs of the production process.

This took place during the meeting that President Sisi held today with the Ministerial Economic Group, in the presence of Prime Minister Mostafa Madbouly, and Tariq Amer, Governor of the Central Bank; Follow the procedures to deal with the repercussions of the world economic crisis on Egypt.

Tariq Amer, Governor of the Central Bank, has passed in reviews the current overall monetary situation of the state, pointing out that the Egyptian economy was in able to absorb the severe global repercussions following the Russian-Ukrainian crisis and the consequent changes in global monetary policies, as the state was in able to maintain a secure financial and economic path The balanced monetary situation, as well as the stability of foreign exchange reserves after the state has fulfilled all international obligations.

The official spokesperson for the Presidency of the Republic, Ambassador Bassam Rady, said in a statement that the Governor of the Central Bank also examined the trend of the balance of payments trend in 2021 and the preliminary indicators in the period January-March 2022, which saw increases in revenues from oil products and natural gas, increasing the quantities exported and opening new markets.

According to Amer, revenues from non-petroleum products also increased, in addition to the increase in tourism revenues, revenues from the Suez Canal and remittances from Egyptians working abroad.

For his part, Mostafa Madbouly addressed the efforts of the ministerial economic group and government agencies to move in the next period to address global economic repercussions and developments, through several main pathways aimed primarily at encouraging local and foreign investment and providing more trade. .

These pathways also aim to reduce the general budget deficit of the state, further encouraging private sector participation in economic activity, improving the investment climate, as well as strengthening social protection measures for citizens, as well as providing incentive packages to priority areas that have the ability to grow employment and provide job opportunities as well as global demand for one’s business.

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