Egypt plans to extend strategic commodity reserves to 9 months

Egypt plans to extend its strategic commodity reserves from six months to nine months, Prime Minister Moustafa Madbouly announced on Wednesday, aiming to safeguard essential goods and stabilise domestic prices.

Speaking at his weekly press conference, Madbouly said the government had taken a series of decisions to increase both the volume and duration of reserves for key commodities. “Extending the reserves ensures the state can maintain price stability in the coming period and prevents any opportunity for unjustified price hikes,” he said.

The move underscores Cairo’s efforts to safeguard essential commodities amid global market pressures and rising food and energy costs.

Attribution: Amwal Al Ghad English