Photo courtesy of the Spokesman for the Egyptian Presidency
The directives came during a meeting with Prime Minister Mostafa Madbouly and Central Bank of Egypt (CBE) Governor Hassan Abdalla to review economic performance.
This comes as Egypt works to stabilize prices and continue economic reforms amid regional uncertainty, with a focus on ensuring the availability of production inputs and essential goods.
During the meeting, El-Sisi reviewed efforts to reduce inflation, increase foreign currency inflows, and strengthen foreign reserves, along with broader structural reforms and measures taken by the CBE and the banking sector.
Abdalla said Egypt maintains “safe levels” of foreign reserves sufficient to secure strategic needs, including essential goods and industrial inputs, according to Presidential Spokesman Ambassador Mohamed El-Shennawy.
El-Sisi stressed the need to continue efforts to curb inflation and to ensure close coordination between the government and the CBE to maintain a flexible, unified exchange rate.
The meeting also covered developments in the banking sector and trends in external debt relative to GDP, as well as their impact on overall economic performance.
Officials discussed expanding financing and creating more opportunities for the private sector to drive growth, attract further investment, and increase its role in the economy.
They also reviewed preparations for Egypt’s hosting of the 33rd annual meetings of the African Export-Import Bank (Afreximbank) from 21 to 24 June 2026.
The CBE governor said hosting the event highlights Egypt’s role in advancing regional integration in Africa amid shifting global economic conditions and rising geopolitical tensions.
El-Sisi also directed enhancing incentives to maximize economic opportunities, support private sector-led growth, and ensure enough foreign currency to meet development needs and maintain a stable supply of essential goods.
Egypt’s foreign exchange reserves continued to rise in March, reaching $52.83 billion, up from $52.47 billion in February, according to CBE data.
The increase marks a continuation of a steady build-up in reserves since 2024, supported by foreign inflows, external financing, and economic reforms aimed at stabilizing the currency and restoring investor confidence.
The improvement has been driven by stronger remittances, tourism revenues, Suez Canal receipts, and renewed portfolio inflows following exchange rate liberalization and monetary tightening measures introduced in March 2024.
The rise comes despite renewed external pressures linked to regional tensions, which have triggered capital outflows and increased demand for foreign currency, underscoring the importance of maintaining strong reserves to support the pound and ensure the availability of essential imports.
Short link: