Egypt’s PM, FinMin, CBE governor discuss key economic policies
Prime Minister Moustafa Madbouly met on Monday with Central Bank of Egypt (CBE) Governor Hassan Abdalla and Finance Minister Ahmed Kouchouk to review key economic developments and financial strategies.
The meeting, held at the government’s headquarters in the New Administrative Capital, centered on strengthening Egypt’s strategic stockpile of essential goods through coordinated efforts between the government and the CBE. Discussions also covered measures to ensure price stability and secure necessary financial allocations.
A major highlight was the record increase in Egypt’s net foreign reserves, which rose to $47.109 billion in December—an all-time high—up from $46.952 billion in November 2024. Remittances from Egyptians abroad also experienced a sharp 47.1 per cent surge, reaching $26.3 billion from January to November 2024, compared to $17.9 billion in the same period in 2023.
They reaffirmed Egypt’s commitment to attracting more foreign currency through policies ensuring a flexible and unified exchange rate. The prime minister also emphasised ongoing coordination to facilitate imports of essential goods and production supplies, particularly ahead of Ramadan.
Attribution: Amwal Al Ghad English