Egypt’s Sisi reviews economy, inflation efforts
Egypt’s President Abdel Fattah El Sisi met with Central Bank Governor Hassan Abdalla on Tuesday to review the performance of the Egyptian economy. The meeting also discussed efforts to reduce inflation, boost foreign currency inflows, and strengthen foreign exchange reserves.
Discussions also covered the impact of ongoing regional conflicts and geopolitical tensions on inflation, capital flows, and the external balance.
During the meeting, Sisi directed accelerating fiscal sustainability efforts, strengthening fiscal discipline, and improving the debt structure to channel more resources toward service sectors and human development. He also stressed the importance of continuing to grow international reserves and containing inflation.
Sisi reviewed progress under Egypt’s economic reform programme, which helped reduce inflation from a peak of 38 per cent to 11 per cent before the recent regional crisis. Egypt’s net international reserves reached nearly $53 billion in April 2026, covering 6.3 months of imports and equivalent to around 158 per cent of short-term external debt.
Governor Abdalla reaffirmed the Central Bank of Egypt’s commitment to maintaining a flexible exchange rate policy to help absorb external shocks.
The governor also reviewed preparations for Egypt’s hosting of the 33rd annual meetings of the African Export Import Bank (Afreximbank), scheduled to take place in Alamein in June 2026 under the president’s patronage.
Attribution: Amwal Al Ghad English