Egypt's finance minister eyes boosting further economic growth rates

Finance Minister Hany Kadry Dimian said his ministry's efforts during the coming period will focus on boosting growth rates in light of the president's vision.

This requires more big and constant investments into the national economy that cannot be substituted by surpluses, Dimian told reporters following the swearing-in of the new cabinet.

Improving trust in the Egyptian economy through reforms is a must to lure such investments, he noted.

The president reiterated directives that are meant to cement the pillars of political, economic and social stability, namely the necessity of further economic reforms and decreasing the budget deficit, said the finance minister.

Other reforms including that of industry and production were asserted by the president, added the minister.

Dimian said the coming period will require the enforcement of legislative amendments pertaining to the core of the economic system.

Investments should be further based on the private sector in the future, he said.