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President El-Sisi tasks Madbouly with forming new cabinet, emphasizes economic priorities

In his directive to the incoming government, President El-Sisi outlined key objectives aimed at bolstering Egypt's economy

By: Business Today Egypt

Mon, Jun. 3, 2024

President Abdel Fattah El-Sisi has appointed Prime Minister Mostafa Madbouly to lead the formation of a new government, following Madbouly's submission of his cabinet's resignation.

This decision, announced by the presidency in a statement on Monday, underscores the administration's commitment to addressing pressing economic challenges and advancing strategic priorities.

In his directive to the incoming government, President El-Sisi outlined key objectives aimed at bolstering Egypt's economy.

These include efforts to combat inflation, enhance market regulation, and stimulate both domestic and foreign investments.

The President also emphasized the paramount importance of safeguarding national security in the face of regional and international threats, particularly in the realm of counter-terrorism.

The cabinet’s resignation comes as Egypt’s national dialogue resumed sessions, discussing national security issues and economic matters.

While selecting Madbouly to oversee the formation of a new cabinet may spark speculation about broader changes within the government, such as potential leadership changes, official sources have not provided any indication of such developments.

Cabinet reshuffles are often strategic maneuvers, serving to align government policies with evolving priorities and challenges. The cabinet shuffle could signal a stronger position on several policies, including economic reforms, international cooperation, and the war in Gaza.

In some instances, cabinet reshuffles may also facilitate succession planning, preparing potential successors by placing them in high profile and integral positions, or realigning government strategies to better address emerging challenges.

Details regarding the composition of the coming cabinet and the timing of its announcement have yet to be disclosed.

However, President El-Sisi expressed confidence in Madbouly's ability to navigate the complexities of governance, stating, "Today, I assigned Dr. Mostafa Madbouly to form a new government that consists of the necessary expertise and competencies to manage the next phase, in order to achieve the desired development in government performance and confront the challenges facing the state."

Until the new cabinet is formally sworn in by the President, the current ministers will continue to perform their duties.