Sisi reviews economic performance, FX buffers with PM, central bank chief
Egypt’s President Abdel Fattah El-Sisi on Monday reviewed efforts to curb inflation, boost foreign currency inflows, and strengthen foreign exchange reserves, while calling for continued economic reforms, the presidency said.
Sisi met with Prime Minister Moustafa Madbouly and Central Bank of Egypt (CBE) Governor Hassan Abdalla to assess the country’s economic performance and measures taken by the government and banking sector amid regional tensions.
The central bank governor said Egypt holds sufficient foreign exchange reserves to secure strategic needs, including essential goods and production inputs for industry, according to a presidency statement.
Sisi stressed the need to continue securing foreign currency to ensure the availability of production inputs and maintain adequate strategic reserves of key commodities. He also called for sustained efforts to lower inflation and close coordination between the government and the central bank to preserve a flexible and unified exchange rate.
The meeting also reviewed developments in the banking sector and trends in external debt relative to gross domestic product, and their impact on the broader economy. The officials discussed expanding financing and opportunities for the private sector to support growth and attract further investment inflows.
Sisi also reviewed preparations for Egypt’s hosting of the 33rd annual meetings of the African Export-Import Bank (Afreximbank), scheduled for 21-24 June 2026. The central bank governor said the event underscores Egypt’s role in promoting regional economic integration in Africa at a time of heightened global uncertainty and shifting economic dynamics.
The president also called for enhanced incentives to maximise economic opportunities and strengthen private-sector participation, while ensuring sufficient foreign currency availability to support development needs and maintain stable supplies of essential goods.
Attribution: Amwal Al Ghad English