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Sisi urges boosting dollar revenue from local resources

Businessmen Team news 18 August 2025 02:21 PM
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Sisi urges boosting dollar revenue from local resources

President Abdel Fattah El-Sisi met Monday with Central Bank Governor Hassan Abdallah to discuss the country’s current economic performance, according to a presidential statement.

Presidential spokesperson Mohamed El-Shenawy said the meeting addressed efforts to curb inflation and boost foreign currency reserves. The discussions also covered the global economic situation and its impact on Egypt.

Sisi underscored that sufficient foreign currency resources would ensure an adequate supply of essential goods, petroleum products, and factory inputs. He also stressed the need to increase foreign currency earnings from domestic sources and for continued coordination between the government and the central bank to maintain a flexible and unified exchange rate.

The meeting also reviewed ways to provide opportunities and financing for the private sector to spur economic growth and attract further investment flows.

According to the statement, Sisi directed officials to enhance incentives and create a favorable environment to attract more foreign investment and empower the private sector to play a greater role in the economy.