Egypt’s new Cabinet was sworn in on Wednesday, addressing economic challenges and regional conflicts. Prime Minister Mustafa Madbouly, in office since 2018, remains at the helm, while significant changes were made in defense and economic portfolios.
Amid public discontent from economic mismanagement, the pandemic, and wars in Europe and the Middle East, the government aims to address pressing issues.
Mohamed Maait, finance minister since 2018, was replaced by deputy Ahmed Kouchouk, a former World Bank economist who played a crucial role in the IMF-backed reform program. This year, the government floated the pound and raised interest rates to combat inflation and attract foreign investment, causing the U.S. dollar to trade at over 47 pounds, up from 31 pounds.
Sherif Fathy, former civil aviation minister, replaced Ahmed Issa as Tourism and Antiquities Minister, as Egypt seeks to revive its tourism sector. Mahmoud Esmat was appointed electricity minister to address recurring power cuts.
Badr Abdelatty, former envoy to Germany and Belgium, was named Foreign and Migration Minister, succeeding Sameh Shoukry. Gen. Abdel-Majeed Sakr replaced Gen. Mohamed Zaki as defense minister. The new ministers took the oath before President Abdel Fattah el-Sissi, who was elected for a third six-year term in December. El-Sissi, first elected in 2014, initiated the Cabinet reshuffle three months into his third term.
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