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Cabinet Committee On Economic Policy Reviews Financial, Monetary Indicators

July 8, 2014

The Cabinet Committee on Economic Policy, under Prime Minister Ibrahim Mahlab, has reviewed the financial and monetary indicators, procedures carried out by the Central Bank to control the foreign exchange market, and the provision of foreign currency for importing basic commodities.

The committee allocated LE1.4 billion to develop the public transport network nationwide, and to add some 1200 new buses to service. The committee approved an international tender for the "Golden Triangle" project in Qaft City of Qena province, Upper Egypt.

It also reviewed the outcome of the international cooperation minister's participation in the 39th meeting of the Islamic Development Bank (IDB), held in Saudi Arabia on June 24 and 25.

Four agreements were reached with the IDB worth more than USD 750 million to develop power plants and irrigation networks in Egypt.

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Source: AllAfrica

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