Al-Sisi calls for further deflation, debt cut, and stronger foreign currency inflows

AI Summary

President Abdel Fattah Al-Sisi called for sustained action to reduce inflation and public debt while increasing foreign-currency inflows and maintaining adequate foreign-exchange reserves. The reserves are intended to cover Egypt’s strategic import needs.

Egyptian President Abdel Fattah Al-Sisi on Monday called for sustained efforts to bring down inflation and public debt, increase foreign currency inflows and maintain sufficient foreign exchange reserves to cover the country’s strategic import needs. Al-Sisi issued the directives during separate meetings with Prime Minister Mostafa Madbouly, Central Bank of Egypt (CBE) Governor Hassan Abdalla […]