Mansour reviews plan to revive economy

Egyptian President Adly Mansour reviewed an urgent plan aimed at reviving the national economy in the coming period which includes pumping additional funds of 24.5 billion pounds to be directed so as it serves the poorest segments of society. Presidential Spokesman Ambassador Ihab Badawi said Minister of Planning Ashraf El-Araby had during a meeting with the president discussed the most important challenges facing the Egyptian economy, the long term development vision (Egypt 2022), basic aspects of a medium term action plan, and an urgent plan to revive the national economy. The spokesman added that in connection with the urgent plan, the Beblawi government had decided to opt for an expansion economic policy that would most benefit the poorest segments in society. The plan, he pointed out, includes increase in public investment spending, particularly in projects that serve the limited income segment of the population and provide job opportunities for youth to help bring down unemployment, as well seeks to increase demand for local products. The urgent plan also involves improving quality of public services and increasing access to such services among those of limited and low income, with stress on projects close to completion. Sectors to benefit from the plan include motorways and transport grids, land reclamation, social housing, national product programs, healthcare, electricity network, drinking water grid, sanitary water system, and natural gas. The spokesman pointed out that president Mansour had directed the plan be implemented without delay on all tracks, highlighting as well the importance of initiating the programs drawn to develop Sinai.