President El-Sisi Meets Central Bank of Egypt (CBE) Governor

Today, President Abdel Fattah El-Sisi met with Governor of the Central Bank of Egypt, Mr. Hassan Abdullah.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President followed up on the latest developments regarding the improvement of various indicators, such as the decline in the exchange rate and the continued decrease in inflation rates. 

President El-Sisi was also briefed on the latest updates concerning the strengthening of the banking sector, increasing dollar inflows from various sources, as well as the indicators related to boosting the country’s foreign currency reserves. In this regard, the CBE Governor pointed out that the country’s foreign currency reserves are at highly reassuring levels.

The President emphasized the importance of continuing efforts to secure the dollar needs to provide production requirements and build strategic stocks of various goods, ensuring their increased availability and supply at appropriate prices.

President El-Sisi gave directives to continue efforts to further reduce inflation rates and maintain coordination between the government and the CBE in order to ensure a flexible and unified exchange rate for foreign currencies, while also working on developing alternative credit evaluation models.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.