Prime Minister Mostafa Madbouly chaired a meeting today to follow up on efforts to increase Egypt’s strategic reserves of petroleum products. The session was attended by Central Bank Governor Hassan Abdalla, Finance Minister Ahmed Kouchouk, Petroleum and Mineral Resources Minister Karim Badawi, Deputy Central Bank Governor Tarek El-Khouly, and senior officials.
Madbouly stressed that the government is working diligently to secure a reassuring level of petroleum reserves, in line with current global uncertainties and to ensure market stability amid regional geopolitical tensions. He noted that the government continuously monitors developments and prepares flexible contingency plans to safeguard energy supplies, ensuring uninterrupted access for citizens and productive sectors.
Petroleum Minister Karim Badawi presented a detailed overview of available petroleum product volumes and outlined measures being implemented to strengthen reserves in the coming period. The meeting also reviewed coordination frameworks between the Ministry of Finance and the Central Bank to secure sustainable financial resources for building and maintaining the reserves safely, thereby supporting market stability and the performance of service and production sectors.
