Egypt to unveil price stability plan within 10 days – PM

Egypt will present a comprehensive plan to the Cabinet within 10 days to implement President Abdel Fattah El-Sisi’s directives on ensuring the availability of essential goods and stabilising prices, Prime Minister Moustafa Madbouly said on Tuesday.

Madbouly made the remarks during a press conference following a tour of agricultural, livestock, and development projects in the governorates of Giza, Menoufia, Beheira, and Matrouh.

He said the government had held three meetings on Tuesday to coordinate implementation of the presidential directives, including measures to strengthen food security and improve the availability of essential commodities.

Under the plan, the Future of Egypt Sustainable Development Authority, in cooperation with the ministries of Supply and Agriculture, will work to secure supplies, improve distribution networks, and help stabilise consumer prices.

“We have agreed on a comprehensive executive plan that will be presented to the Cabinet within 10 days so implementation of the president’s directives on the availability of goods and price stability can begin,” Madbouly said.

He said the government recognised that citizens expected improvements in macroeconomic indicators to be reflected in their daily lives through lower inflation and more stable prices.

Madbouly said Egypt’s net international reserves had exceeded $55 billion for the first time after rising by nearly $2 billion in one month, citing data released by the Central Bank of Egypt (CBE).

“These are positive indicators that reflect the resilience of the Egyptian economy despite regional and global challenges,” he said.

He added that inflation had continued to decline but acknowledged that consumers remained primarily concerned with the prices of goods and services rather than broader economic indicators.

Madbouly said the government was monitoring markets daily and working to improve supply chains, reduce distribution costs and expand domestic production.

“Increasing production is the most effective way to achieve market balance because it strengthens competition and helps stabilise and reduce prices,” he said.

During the tour, Madbouly inspected several food security projects, including private-sector investments in livestock breeding, meat production, and dairy farming, as well as agricultural projects producing crops for both domestic consumption and export.

He also visited the Ministry of Agriculture’s livestock production and dairy processing station, where officials reviewed programmes to improve cattle breeds through crossbreeding with high-yield imported breeds to increase meat and milk production.

Madbouly said expanding agricultural and livestock production through cooperation between the public and private sectors remained central to the government’s strategy to strengthen food security and ensure stable supplies of essential commodities.

Attribution: Amwal Al Ghad English