Mohamed Maait, deputy minister of finance in the former cabinet, was appointed as new minister of finance, replacing Amr el-Garhy, Egyptian TV reported.
Garhy was appointed in 2016 and helped lead the economic reforms tied to Egypt's three-year USD 12 billion IMF loan programme that included cuts on subsidies.
Madbouli's elevation to the post had come two days after his predecessor Sherif Ismail submitted his resignation following Sisi's swearing-in as the head of state for a second term until 2022.
Ismail's move was in line with the political tradition that the government should resign at the start of a new presidential term.
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