PM, CBE chief brief El-Sisi on boosting economic indicators efforts

Presidential Spokesperson Ambassador Mohamed El-Shennawy, said the talks focused on strengthening the banking sector and boosting hard currency inflows, especially from domestic sources, as well as reinforcing Egypt’s foreign exchange reserves.

Egypt’s net international reserves rose to $49.25 billion at the end of August, up around $214 million from July—a modest increase but a sign reserves are holding steady.

Abdalla told the meeting that domestic foreign currency earnings had reached record levels in August, covering all local obligations and generating a surplus.

El-Sisi was also briefed on government efforts to reduce inflation and push ahead with structural reforms to improve fiscal and macroeconomic performance.

He reviewed developments in Egypt’s external debt as a share of GDP, which Abdalla said remains within “safe limits.”

The president stressed the need to continue building foreign exchange reserves to support development projects, ensure a secure stock of essential goods and maintain market stability.