President Abdel Fattah al-Sisi met today with Prime Minister Mostafa Madbouly and Hassan Abdullah, Governor of the Central Bank of Egypt.
The official spokesman for the Presidency of the Republic stated that the meeting addressed a number of topics related to the performance of the Egyptian economy during the current period, as the President was briefed, in this regard, on the efforts made to continue reducing inflation rates, increasing dollar inflows, as well as the indicators related to strengthening the state’s foreign exchange reserves, economic and structural reforms, in addition to the measures taken by the state, especially the Central Bank and the banking sector, in light of the current regional situation.
Ambassador Mohamed El Shenawy, the official spokesperson, stated that the Central Bank Governor indicated the availability of safe levels of foreign currency reserves capable of securing strategic needs for basic commodities, as well as production requirements for factories.
The President stressed the need to continue working towards securing dollar needs to provide production requirements and to strengthen a strategic stock of various goods. The President also directed the continuation of efforts to reduce inflation rates and continued coordination between the government and the Central Bank to ensure the maintenance of a flexible and unified exchange rate for foreign currency.
The official spokesperson explained that the President also followed up during the meeting on the latest developments regarding strengthening the performance of the banking sector, the evolution of external debt as a percentage of GDP, and the implications of this for the macroeconomy. The meeting also reviewed matters related to providing opportunities and financing for the private sector to drive economic growth, thereby contributing to attracting more investment flows and maximizing the private sector's role in economic activity.
Egypt hosts the 33rd annual meetings of the African Development Bank
The official spokesperson added that the meeting also addressed Egypt’s hosting of the 33rd Annual Meetings of the African Export-Import Bank (Afreximbank) from June 21 to 24, 2026. The Central Bank Governor noted that Egypt’s hosting of the meeting reflects its role as a key driver of regional integration in Africa, in light of increasing global uncertainty and changing economic dynamics. It is also being held amidst deepening geopolitical realignment and escalating conflicts, reflecting the need to strengthen reliance on African self-sufficiency and develop regional value chains.
The President directed that incentives be strengthened to take advantage of available economic opportunities, and that opportunities be made available to the private sector to drive economic growth, which would contribute to attracting more investment flows and meeting the financing needs necessary to enhance development efforts, while continuing to make sufficient dollar resources available, which would positively reflect on providing a reassuring stock of various goods.
