Egypt’s PM, central bank governor discuss reserves, inflation, dollar inflows

Prime Minister Moustafa Madbouly and Central Bank of Egypt (CBE) Governor Hassan Abdalla discussed on Monday foreign exchange reserves, inflation, and efforts to boost dollar inflows at a meeting on Monday.

The meeting was part of regular coordination between the government and the CBE on key economic issues, with the two sides reviewing indicators on Egypt’s economic performance and developments in the global economy amid current challenges, a government statement said.

The discussions covered the country’s foreign exchange reserves and their role in securing strategic needs, as well as measures to strengthen strategic reserves of basic commodities, contain inflation, and boost dollar inflows.

The government and central bank are also coordinating to ensure adequate foreign currency availability to support industrial growth and other priority sectors, the statement said.

Madbouly stressed the importance of coordinating economic, fiscal, monetary, and sector-specific policies to support growth in line with the government’s priorities.