Cairo: Egypt's President Abdelfattah Al-Sisi has highlighted the importance of increasing foreign exchange reserves to meet financial requirements and drive development. This was conveyed during a meeting held on Saturday with Prime Minister Moustafa Madbouli, Central Bank of Egypt Governor Hassan Abdullah, and presidential advisor for financial affairs Ahmad Al-Sahzli, as stated by presidential spokesman Ambassador Mohammad Al-Shennway.
According to Kuwait News Agency, Al-Sisi also emphasized the necessity of maintaining a flexible exchange rate for foreign currency. He pointed out the importance of ensuring sufficient dollar resources to positively impact the stock of goods and reduce national debt. The discussions centered on improving banking performance and efforts to boost dollar earnings, with a particular focus on enhancing local resources.
The meeting also reviewed efforts to curb inflation and implement structural economic reforms by the government. These initiatives are part of a broader strategy to improve Egypt's economic and financial indicators while addressing external debt challenges. Abdullah noted that local foreign currency resources reached a record level in August 2025, ensuring the fulfillment of domestic obligations and achieving a surplus.