President Abdel Fattah El Sisi reviewed with Central Bank of Egypt (CBE) Governor Hassan Abdallah, on Tuesday, several issues related to the performance of the Egyptian economy, and the efforts to reduce inflation, increase foreign currency inflows, and secure foreign exchange reserves.
Discussions during the meeting focused on the impact of regional conflicts and current geopolitical tensions on inflation rates and the external balance, Presidency Spokesman Mohamed el-Shennawy said.
President Sisi also reviewed the latest developments in Egypt’s economic conditions and the progress achieved so far in the economic reform programme.
Among the most notable results was the reduction of inflation from its peak of 38 per cent to 11 per cent before the current regional crisis, while Egypt’s net international reserves reached a historic level of approximately $53 billion in April 2026, covering 6.3 months of imports and equivalent to around 158 per cent of short-term external debt, Spokesman el-Shennawy added.
The CBE Governor also discussed during the meeting the repercussions of regional conflicts and ongoing geopolitical tensions on inflation rates, the external balance and capital flows, reaffirming the CBE’s commitment to maintaining a flexible exchange rate policy that enables the currency to absorb external shocks, the presidency spokesman said.
Abdallah reviewed preparations for Egypt’s hosting of the 33rd annual meetings of the African Export-Import Bank (Afreximbank), which will be held in New Alamein City next month under the patronage of President Sisi.
In this context, the CBE chief stressed that Egypt’s hosting of the event reflects its firm commitment to supporting African economic integration, expanding trade and achieving sustainable development within the framework of the strategic partnership with Afreximbank.
President Sisi gave commands on the acceleration of fiscal sustainability efforts, strengthening fiscal discipline and improving the debt structure, in a manner that ensures greater resources are directed toward service sectors and human development efforts.
He also stressed the importance of the CBE maintaining the growth of international reserves and containing inflation.
