Prime Minister Mostafa Madbouli chaired on Monday a meeting of the ministerial economic group to review response plans to the fallout from ongoing U.S.-Israeli operations against Iran and Tehran’s targeting of several Arab countries.
Madbouli stressed the need to update integrated scenarios prepared by ministries and relevant bodies in line with fast-changing developments. He called for full readiness to deal with any potential escalation.
The prime minister said a joint plan has been prepared in coordination with the Central Bank to secure the necessary foreign currency to cover essential imports. These include food commodities, petroleum products and production inputs.
He noted that no one can predict how the war will unfold, making it necessary to study all possible scenarios and take precautionary measures.
The meeting was attended by senior economic officials, including Central Bank Governor Hassan Abdalla, Finance Minister Ahmed Kouchouk, Supply Minister Sherif Farouk, Petroleum Minister Karim Badawi and Investment Minister Mohamed Farid.
Cabinet Spokesman Mohamed El-Homsani said the discussions focused on the economic impact of the military operations on global markets. He noted that the conflict has negatively affected international trade and economic activity, leading to currency volatility worldwide due to rising uncertainty.
The meeting reviewed the impact on Egypt’s fresh agricultural exports to Gulf markets, some African countries and Southeast Asia. Ministers agreed on immediate coordination to redirect affected products to the local market to prevent losses for exporters.
Officials also discussed Egyptian flights to Gulf countries, confirming continued coordination with civil aviation authorities there.
On petroleum products, the spokesman said sufficient quantities are available for an extended period, especially with multiple contracted shipments already secured. He added that gas supplies remain at safe levels and that efforts are underway to boost strategic crude oil reserves in cooperation with international companies.
