OPEN// PM says Egypt monitors regional developments, impact on domestic situation
CAIRO, June 22 (MENA) - Prime Minister Mostafa Madbouli said Sunday the government is closely monitoring regional events, evaluating their impacts on the domestic situation, particularly on the economic conditions.
He noted that a crisis management committee has been formed to follow up on the consequences of these developments, in addition to the ongoing efforts by the ministerial economic group to assess the situation.
The premier's remarks came during a meeting with members of the Macroeconomic Advisory Committee, where a number of scenarios, recommendations, and precautionary measures were reviewed to help mitigate risks arising from the current regional geopolitical context amid heightened tensions following US military strikes on Iran.
Madbouli highlighted the importance of weighing all perspectives and proposals regarding how to deal with the intensifying regional events.
Egypt's stockpile of essential goods is safe, he said, pointing out that an agreement has been reached with the banking sector to secure all necessary foreign currency needs for various industrial sectors and production requirements.
The committee emphasized the importance of close coordination between the government and the Central Bank of Egypt (CBE) to maintain exchange rate stability and preserve currency flexibility, as part of the work of the Monetary and Fiscal Policy Coordination Committee.
Also, it highlighted the need to accelerate structural reforms to attract more foreign direct investment, and to enhance digital export platforms, particularly targeting African and Gulf markets. (MENA)
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