New proposals to boost Egypt economy

Egypt's Minister of Finance Ahmed Galal Cairo - Mohamed Al Dawy Egypt's Minister of Finance Ahmed Galal said he has proposed 68 amendments to a constitutional committee to help improve the country’s economy. He said the amendments all aim to decentralise the management of financial and economic policies. The ministers of an economy group have so far agreed on three main objectives, including the fiscal discipline, stimulating the economy via expansionary fiscal policies to push forward the economy and achieving social equality, according to Galal the government is preparing a number of policies and measures to achieve these objectives. He highlighted the need for social equality, but added that talks of a minimum wage were not enough to achieve this, adding that the present time is also not ideal for discussing taxation of companies or individuals since this will not help stimulate the economy. The new finance minister concluded by reiterating that the economy is one of the main priorities of the new Egyptian government, who will be working towards reopening shut down factories to aid the economy and to create more job opportunities.