The meeting was attended by Hassan Abdullah, Governor of the Central Bank; Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation; Dr. Sherif Farouk, Minister of Supply and Internal Trade; Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade; Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies; Rami Abu Al-Naga, Deputy Governor of the Central Bank; and a number of ministry and Central Bank officials.
Counselor Mohamed El-Homsany, the official spokesperson for the Cabinet, stated that the meeting reviewed the progress made on the economic reform program with the International Monetary Fund (IMF), with regard to the fifth review being implemented by the government and the Central Bank in cooperation with the Fund.
El-Homsany explained that the meeting also addressed the most prominent measures and procedures implemented under the Resilience and Sustainability Facility (RSF) program. He added that it was also noted that the inflation rate for the current month of June fell within the target range under the IMF's quantitative performance indicators. This rate is expected to decline over the next year, provided no other factors occur, taking into account public finance control measures. However, there are still upside risks due to the repercussions of protectionist trade policies globally, coupled with escalating regional conflicts and tensions. He also noted that the meeting reviewed the status of external debt reduction efforts, emphasizing that the current fiscal year will end within the specified external debt ceiling, without any increase.
The official spokesperson added that the meeting also reviewed the implementation status of the National Committee for the Business Readiness Report, established by Prime Ministerial Decree No. 939 of 2025. He noted that the Business Readiness Report is an annual report issued by the World Bank to assess the investment climate and ease of doing business throughout a company's lifecycle, from inception to closure. Its importance stems from its role as a strategic reference for reforms, as it guides governments toward adopting the required reform policies in legislation, procedures, and digital transformation to create a competitive and attractive investment environment, based on international best practices.
The pillars of the Business Readiness Report were also highlighted, including the legislative and regulatory framework, the provision and quality of public services, and operational efficiency, which relates to the efficiency of service delivery in terms of procedures, time, and cost.
The meeting also reviewed the launch of the pilot phase of the Unified Licensing Platform, which was described as a strategic platform developed over the past months in coordination with various state agencies with the aim of enhancing the investment environment and improving the competitiveness of the Egyptian economy.
In light of this, it was noted that the platform connects 41 government entities electronically, providing investors with access to 250 different services. The platform responds to investor inquiries, provides them with guides, allows for document review, and directs requests to the relevant administrative authority.
The meeting also addressed the platform's current development efforts, including updating licensing guides for government entities, training specialized personnel, and an agreement with e-Finance to complete the provision of electronic payment services. Cybersecurity tests were also conducted to ensure the platform's integrity and the protection of its data.
Separately, Madbouly chaired a meeting on Wednesday evening to follow up on the implementation status of the government's offering program. The meeting was attended by the Governor of the Central Bank and a number of ministers. This is part of the periodic meetings to follow up on developments in the implementation status of the government's offering program.
He affirmed the continued implementation of the necessary steps and measures that will contribute to strengthening the role of the private sector in various economic activities and increasing its participation in various sectors, in implementation of the provisions of the State Ownership Policy Document.
El-Homsany stated that the meeting dealt with the executive status of the government proposals program, in addition to presenting all the procedures that are being worked on and reviewing the various timing of the launch of a number of targeted companies during the next stage.
The meeting also followed the developments of the executive status on the procedures and steps of cooperation between the Egypt Sovereign Fund for Investment and Development, the National Service Projects Authority for the Armed Forces, and a group of local and international specialized consulting offices, to restructure and manage the offering of a number of companies owned by the armed forces.