Ziad Bahaa Eddin, deputy prime minister for economic development and international cooperation minister, officially submitted his resignation to Prime Minister Hazem al-Beblawy on Monday.
Bahaa Eddin denied news about taking an executive post at the World Bank.
“I believe my role during the coming period will be more effective through political, partisan and legal work,” he added.
He added that he will resume his work at the ministry until resignation is accepted and another minister is named.
In his resignation letter to Beblawy, Bahaa Eddin demanded that it is accepted upon his return from the Davos forum.
Bahaa Eddin occupied his post within Beblawy’s cabinet after the ouster of ex-president Mohamed Morsy in July 2013.
Observers expected a cabinet reshuffle amid the move by Defense Minister Abdel Fattah al-Sisi to run for president.
Edited translation from Al-Masry Al-Youm