Muhammad Abul Enein, member of the House of Representatives (HoR), praised the successful state administration of the crisis of the Coronavirus.
Abul Enein pointed out that the political leadership and the government made enormous efforts as they took proactive measures according to a clear vision and strategy to stem the Coronavirus.
The measures aim to reduce the repercussions of the deadly virus. It spared Egypt and its people catastrophic risks, both at the human or economic level meanwhile major countries in the world are suffering badly.
Abul Enein revealed that the government made a package of social or economic decisions that helped the Egyptians to face the consequences of Coronavirus and supported the local market to cope with the crisis.
Abul Enein added in his speech before the plenary session of the HoR, chaired by Dr. Ali Abdel-Al, Speaker of the Council, that President Abdel Fattah El-Sisi directed concerned officials to allocate a package of a stimulus of EGP 100 billion which represents 2% of the Gross Domestic Product (GDP) in order to support the health sector and secure the country’s basic needs of food, medicine, fuel and support companies and individuals affected by the crisis.
The Ministry of Finance and the Central Bank also introduced an expansionary fiscal and monetary package in order to stimulate the economy and ensure the continuity of economic activity and the preservation of employment.
Abul Enein supported the Ministry of Finance’s request to open an additional credit of EGP 10 billion because it contributes to pushing the wheel of production and economic activity.