Egypt’s PM, CBE governor, FinMin review commodity stocks, economic coordination

Prime Minister Moustafa Madbouly met with Central Bank Governor Hassan Abdalla and Finance Minister Ahmed Kouchouk on Monday to assess strategic commodity reserves, policy coordination, and foreign-currency buffers, according to a Cabinet statement.

The meeting focused on government-CBE collaboration to secure financing for adequate stocks of essential goods—including strategic commodities, petroleum products, and industrial inputs—amid ongoing global economic uncertainties. The officials discussed measures to ensure sufficient market supplies and price stability, as well as recent economic developments, the global outlook, and the impact of international challenges on Egypt’s economy.

Madbouly, Abdalla, and Kouchouk also reviewed coordination between fiscal and monetary policies, with the government noting that such cooperation has helped ease inflation.

Annual urban consumer inflation in Egypt has declined significantly over the past year, after reaching record highs in 2023 and early 2024, supported by tighter monetary policy, base effects, and improved foreign-currency availability.

The meeting further addressed foreign-exchange reserve indicators and efforts to ensure the availability of key production inputs for priority sectors, as authorities work to support growth and strengthen external stability. Egypt continues to pursue a broader economic reform program aimed at restoring macroeconomic stability, attracting foreign investment, and increasing private sector engagement.

Attribution: Amwal Al Ghad English