Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Governor of the Central Bank of Egypt Mr. Hassan Abdalla, and Presidential Advisor for Financial Affairs Lieutenant General Ahmed El-Shazly.
The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the meeting addressed the latest developments in enhancing the performance of the banking sector and ongoing efforts to increase U.S. dollar revenues, particularly from domestic sources. The President was briefed on indicators related to strengthening the country’s foreign currency reserves. The President reviewed the progress made in reducing inflation rates, as well as the economic and structural reforms being implemented by the government to improve financial and economic indicators. The President also followed up on the development of external debt as a percentage of Gross Domestic Product (GDP). The Governor of the Central Bank of Egypt noted that this ratio remains within safe limits and affirmed that domestic foreign currency resources reached a record level in August 2025, ensuring coverage of all local obligations and achieving a real surplus.
The President emphasized the importance of increasing foreign currency reserves and meeting the necessary financing needs to support development efforts. He stressed the continued provision of sufficient U.S. dollar resources to positively impact the availability of a secure stockpile of various goods, as well as the need to reduce external debt. The President also reiterated the necessity of maintaining a flexible exchange rate system.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
