Exclusion of production requirements and raw materials from import procedures

Excluding production requirements and raw materials from import procedures and returning to the old system through collection documents President Abdel-Fattah El-Sisi met with the Ministerial Economic Group in this context.He also directed the formation of a working group headed by the Prime Minister, with the membership of the Central Bank Governor, the Minister of Finance, the Minister of Trade and Industry, and other competent authorities, to carry out periodic follow-up and regular evaluation of the system of import procedures and the extent to which they meet the needs of the production process. The official spokesman added that the Governor of the Central Bank also reviewed The development of the performance of the balance of payments during the year 2021 and the preliminary indicators during the period from January to March 2022, which witnessed increases in the proceeds of petroleum products and natural gas, by increasing export quantities and opening new markets. The proceeds of non-oil products also increased, in addition to the increase in tourism revenues, and revenues The Suez Canal, and the remittances of Egyptians working abroad. For his part, Prime Minister Mostafa Madbouly addressed the efforts of the ministerial economic group and government agencies to move during the coming period to deal with the repercussions and global economic developments, through several main tracks aimed primarily at encouraging local and foreign investments, providing more foreign exchange, and reducing the proportion of The state’s general budget deficit, with more encouraging private sector participation in economic activity, improving the investment climate, as well as strengthening social protection measures for citizens, as well as providing incentive packages to priority sectors that have the ability to grow employment and provide job opportunities, as well as a global demand for their activity.