Egypt cabinet moves to rationalize spending as Madbouly chairs weekly meeting

Egypt's cabinet, chaired by Prime Minister Mostafa Madbouly, convened on November 5 to review a plan trimming government spending amid regional tensions.

• Madbouly chaired the weekly cabinet meeting on November 5 at the New Administrative Capital.
• Madbouly said the finance and planning ministries drafted a plan to rationalize public spending and ensure financial sustainability.
• Madbouly said the plan, slated for cabinet presentation, would create a defined fiscal space to address the regional crisis.
• Madbouly said President Abdel Fattah al-Sisi directed continuing efforts to deepen local manufacturing, localize technology, and attract local and foreign investment.
• Madbouly detailed ongoing field visits, including to Suez governorate, during the cabinet's weekly meeting.
• Madbouly reviewed President Sisi's participation in the Russia-Africa summit in Moscow and his visits to Hungary.