CAIRO, March 5 (MENA) - Prime Minister Moustafa Madbouli asserted that the Egyptian economy shows many positive indicators at present.

He said that the Purchasing Managers' Index (PMI) exceeded 50 points, which, he added is encouraging all reform steps made by the state.

Speaking at a press conference following the cabinet's weekly meeting on Wednesday, Madbouli said the Central Bank of Egypt (CBE) announced that net foreign assets in Egypt’s banking sector rose to USD 8.7 bn in January, marking a monthly hike of 65.8% from USD 5.2 bn in December.

The premier confirmed the government is seeking to make a balance between spending and revenues and have a surplus of foreign currency.

The two last weeks have witnessed a kind of balance between resources and expenditures in hard currency, according to data from CBE.

Madbouli said he is reviewing with Planning, Economic Development and International Cooperation Minister Rania el Mashat and Finance Minister Ahmed Kouchouk the national plan for FY 2025-2026, adding all details pertaining to it will be announced in the period to come.

The health and education sector will acquire the lion's share of investments in the coming period, he added. (MENA)
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