Egypt’s President Abdel Fattah El Sisi held a meeting Saturday with Prime Minister Mostafa Madbouli, Governor of the Central Bank of Egypt Hassan Abdalla, and Presidential Advisor for Financial Affairs Ahmed El-Shazly.
Presidential Spokesman Mohamed El-Shennawy said the meeting discussed developments in enhancing the performance of the banking sector and efforts to increase Egypt’s US dollar revenue, especially from local sources.
The President was also briefed on key indicators related to bolstering the state’s foreign currency reserves.
President Sisi also reviewed updates on efforts to reduce inflation rates, as well as the economic and structural reforms being implemented by the government to improve financial and economic indicators.
He also followed up on the external debt-to-GDP ratio, as the Central Bank governor noted that this ratio remains within safe levels.
The governor also highlighted that local sources of foreign currency reached record levels in August 2025, ensuring full coverage of domestic obligations and generating a real surplus.
The spokesperson added that President Sisi underlined the need for increasing foreign currency reserves, meeting financing needs to support development efforts, maintaining sufficient availability of dollar resources, which would positively impact the secure stock of essential commodities, working toward reducing external debt and continuing to implement a flexible exchange rate system.
