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Sisi discusses maintaining foreign exchange reserves

Businessmen Team news 20 May 2025 01:55 PM
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Sisi discusses maintaining foreign exchange reserves

President Abdel Fattah El-Sisi convened Tuesday with Prime Minister Dr. Moustafa Madbouly and Central Bank Governor Hassan Abdallah. According to Presidentail spokesperson Ambassador Mohamed El-Shenawy, the meeting focused on macroeconomic indicators, government initiatives to improve the banking sector's performance, strategies to boost and maintain the state's foreign exchange reserves, and efforts to further reduce inflation.

El-Shenawy also noted that the meeting addressed various aspects of the Egyptian economy's performance and the government's efforts to ensure the successful implementation of its economic development program. A key focus was on minimizing the impact of current regional and international challenges on this program. Furthermore, discussions included enhancing incentives to capitalize on economic opportunities and creating avenues for the private sector to drive economic growth, thereby attracting increased investment flows.

His Excellency added that the President directed continued intensive work to attract more foreign investments and empower the private sector. This will be achieved by creating an appropriate legislative and regulatory framework and launching incentive initiatives. The aim is to maintain the improvement in macroeconomic indicators and ensure the effective implementation of development programs.