OPEN// PM confers with CBE governor on Egypt's current economic performance
CAIRO, April 28 ( MENA) - Prime Minister Mostafa Madbouly met with Governor of the Central Bank of Egypt (CBE) Hassan Abdullah as part of ongoing coordination and regular follow-up regarding Egypt's macroeconomic indicators, efforts to reduce inflation, and measures to increase foreign currency reserves.
According to Cabinet spokesman Mohamed el Homosani, the meeting addressed several key topics related to Egypt's current economic performance. It also included a review of the global economic situation and challenges facing countries worldwide and the implications of these challenges on the macroeconomy. Additionally, discussions focused on ongoing efforts to further reduce inflation rates.
The spokesperson further stated that the meeting also covered the government's efforts to ensure that the economic development program is not impacted by the current regional and international conditions, so as to preserve the achievements made by the national economy and maximize the benefits from available economic opportunities. The discussions also included the provision of opportunities and financing for the private sector to stimulate economic growth, attract more investment flows, and enhance the role of the private sector in economic activities.
Additionally, the meeting addressed efforts to strengthen the country's foreign currency reserves to ensure the availability of essential materials for production and industry in priority sectors, thus contributing to sustainable economic growth in Egypt.
During the meeting, the CBE governor called attention to his participation in the Spring Meetings of the Board of Governors of the International Monetary Fund (IMF) and the World Bank, held from April 21 to 26, 2025, in Washington, D.C. He presented a briefing on his meeting with the deputy managing director of the IMF, where they discussed areas of mutual cooperation and developments in Egypt's macroeconomic indicators and the economic reform program that Egypt is implementing in partnership with the IMF. He highlighted that the IMF official expressed appreciation for Egypt's management of its economic file amidst multiple external shocks and commended the Egyptian government's commitment to implementing economic reforms.
(MENA)
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