Egyptian government reshuffles with new appointments
(MENAFN) Egypt's new government was sworn in on Wednesday, following the resignation of Prime Minister Mostafa Madbouly's previous administration a month ago. The reshuffle is anticipated to encompass approximately 20 ministerial portfolios, marking significant changes in key positions, as reported by local media outlets.
Prime Minister Mostafa Madbouly retains his position as head of the new government, a role he has held since 2018. Egyptian state television confirmed on Tuesday that the new cabinet formation will see alterations in crucial ministries, including foreign affairs, finance, petroleum, electricity, and supply.
One of the notable changes includes Ahmed Kujuk assuming the finance portfolio, succeeding Mohamed Maait, who has been the finance minister since 2018. Maait played a pivotal role in Egypt's negotiations with the International Monetary Fund and in managing economic challenges such as high inflation and foreign currency shortages.
Badr Abdel Aati, currently Egypt's ambassador to the European Union, is set to replace Sameh Shoukry as the new foreign minister. Shoukry had held the position for a significant tenure.
Additionally, Sherif Farouk, Chairman of the Board of Directors of the Egyptian National Postal Authority, is expected to be appointed as the Minister of Supply, succeeding Ali Al-Moselhy. The Ministry of Supply oversees critical areas such as Egypt's wheat trade and subsidy system, impacting millions of Egyptians.
Reports highlight Farouk's extensive experience in financial affairs and his leadership in reforming the pension system during his tenure at the Egyptian Post.
The Egyptian government has also signaled its intent to shift from commodity-based subsidies to cash support systems, reflecting ongoing reforms in economic policy under the new ministerial leadership.
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