Egypt’s government, central bank discuss fuel supplies ahead of summer

Egypt’s Prime Minister Moustafa Madbouly met Central Bank Governor Hassan Abdalla on Monday to discuss coordination between fiscal and monetary policy aimed at securing fuel supplies and essential commodities ahead of peak summer demand.

According to a Cabinet statement, the meeting reviewed measures to ensure adequate reserves of petroleum products, essential goods, and production inputs to support supply chains and economic activity.

The government and central bank have sufficient financial resources to cover strategic import needs, including petroleum products required for electricity generation, the statement said.

Particular focus was given to preparations for the summer season, when electricity demand typically rises due to higher cooling consumption, the statement added.

Egypt has been working to strengthen coordination between fiscal and monetary authorities in recent years as part of efforts to support economic stability and manage external pressures.

Attribution: Amwal Al Ghad English