Prime Minister Moustafa Madbouli announced an adjustment to the closing hours of commercial shops, extending them to 11:00 pm until April 27.
During a press conference in the New Administrative Capital on Thursday, Madbouli explained that this decision comes in light of improved regional conditions and a noticeable decline in global oil prices.
He added that Egypt is working on multiple fronts, including ensuring the availability of financial resources for the state.
He noted that there has been coordination with the Central Bank of Egypt (CBE) to provide foreign currency, pointing out that foreign reserves increased during the month of March.
The Prime Minister also stated that the CBE is pursuing a flexible policy to secure foreign currency and financial resources for the state, noting that the Purchasing Managers’ Index may experience a temporary impact but is expected to recover once the war ends.
He further said that the country’s strategic reserves are sufficient for more than six months, adding that Egypt is in the process of supplying the local wheat harvest and that the government has increased the price per ardeb paid to farmers.
Madbouli added that coordination is ongoing with the CBE to ensure the availability of foreign currency, confirming that the CBE’s reserves rose to $52.8 billion in March.
He stressed that there has been no delay in meeting the needs of the Egyptian market, noting that international institutions have praised Egypt’s economic growth.
