Prime Minister Moustafa Madbouli met Sunday with governor of the Central Bank of Egypt (CBE) Hassan Abdullah to discuss a number of economic files.
The meeting focused on the monetary policy and the positive effect expected following a recent decision by the CBE to cancel the maximum limit for deposits either at bank branches or through ATMs.
During the COVID-19 crisis, the CBE set a maximum limit of cash deposits as part of measures to face its global economic impact.
Abdullah also posted Madbouli on steps taken to bring into effect a decision to exempt production inputs and operation equipment from using the documentary credit system.
This is done in line with directives by President Abdel Fattah El Sisi with the aim to support the industry sector, secure products on the local market and keep the production wheels moving.
They also reviewed government efforts to improve the investment climate and activate the private sector’s contribution to the economy.
Source: State Information Service Egypt