The cabinet under Moustafa Madbouli approved on Thursday 22/8/2024 a presidential decree approving a memo of understanding with the EU to boost Egypt's economy and budget by one billion euros. The financial assistance aims at easing foreign financing restrictions, promoting macroeconomic stability, boosting the country's foreign cash reserves, increasing economy's resilience in face of shocks, enhancing its competitiveness and improving business climate. Source: State Information Service Egypt