Tackling the current global financial crunch should be done through three levels including direct handling of the negative effects of the crisis, Prime Minister Ahmed Nazif said 4/1/2009.

The other two levels are observing the intermediate and long range impacts of the crisis that could affect the economy as well as get ready to the robust period expected to follow the current crisis.

Magdi Radi, the Cabinet Spokesman, said Nazif identified five axes for rapid response to reactivate the downward trend of the growth rate.

The axes are suitable use of available local funding, earmarking additional funds, developing the government's social program carrying out domestic trade development program, as well as increasing foreign investments especially the Arab.