Egypt’s Prime Minister, Mostafa Madbouly, chaired a meeting with members of the macroeconomic advisory committee to discuss strategies aimed at mitigating the impacts of escalating regional geopolitical tensions. The Prime Minister emphasized the government’s commitment to monitoring developments and assessing their potential domestic effects, particularly in economic areas. A crisis committee has been formed to oversee these developments alongside the ministerial economic group.
The country’s stock of essential goods remains secure, and an agreement with the banking sector ensures the availability of foreign currency for industrial sectors to import production inputs. During the meeting, committee members presented risks and scenarios related to key issues such as energy security, supply chains, the state budget, exchange rates, Suez Canal revenues, and inflation.
Members stressed the importance of market surveillance, combating hidden inflation, improving energy efficiency, rationalizing consumption, maintaining fiscal discipline, diversifying energy sources, and regular maintenance of facilities. Effective coordination between the government and the central bank was highlighted to ensure exchange rate stability through the monetary and fiscal policy coordination committee. Accelerating structural reforms to encourage foreign direct investment was also recommended. The committee urged support for digital platforms to boost exports to African and Gulf markets, reinforcing national economic stability amid rising regional challenges.
— News Original —
Egyptian Government Explores Economic Contingency Scenarios Amid Regional Escalation
Cairo – Mubasher: Egypt’s Prime Minister Mostafa Madbouly held a meeting with members of the macroeconomic advisory committee to discuss several scenarios and recommendations aimed at mitigating the impacts of escalating regional geopolitical tensions. The Prime Minister emphasized the government’s commitment to monitoring developments and assessing their potential domestic effects, particularly in economic areas. A crisis committee has been formed to oversee these developments alongside the ministerial economic group. The country’s stock of essential goods remains secure, and an agreement with the banking sector ensures the availability of foreign currency for industrial sectors to import production inputs. During the meeting, committee members presented risks and scenarios related to key issues such as energy security, supply chains, the state budget, exchange rates, Suez Canal revenues, and inflation. Members stressed the importance of market surveillance, combating hidden inflation, improving energy efficiency, rationalizing consumption, maintaining fiscal discipline, diversifying energy sources, and regular maintenance of facilities. Effective coordination between the government and the central bank was highlighted to ensure exchange rate stability through the monetary and fiscal policy coordination committee. Accelerating structural reforms to encourage foreign direct investment was also recommended. The committee urged support for digital platforms to boost exports to African and Gulf markets, reinforcing national economic stability amid rising regional challenges.
— news from معلومات مباشر