Cairo: Prime Minister Mostafa Madbouli stated that the State is advancing with its economic reform program, with a particular focus on adopting a flexible exchange rate policy. Madbouli’s comments came during a meeting on Sunday with a delegation from the Arab Fund for Economic and Social Development (AFESD), led by Director General and Chairman of the Board of Directors Badr Mohammed Al-Saad. The session was also attended by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat.

According to State Information Service Egypt, the Prime Minister expressed the government’s interest in strengthening cooperation with the AFESD in the near future. During the meeting, the planning minister underscored the AFESD’s significant role in backing various development projects within Egypt. Al-Saad, representing the AFESD, reiterated the fund’s commitment to enhancing collaboration with Egypt and ensuring the provision of necessary funding for the country’s development initiatives.

Madbouli took the opportunity to outline the government’s efforts to advance the manufacturing sector and increase Egyptian exports, particularly in pharmaceuticals, textiles, information technology, entrepreneurship, food, and petrochemicals, with an emphasis on fertilizers. The discussions also covered the economic impacts of ongoing regional and international crises.