Ahmed Kamel – Egypt Daily News
In a high-level meeting addressing Egypt’s economic trajectory, President Abdel Fattah El-Sisi underscored the vital importance of ensuring sufficient access to US dollar resources, highlighting its positive impact on securing adequate reserves of essential goods, petroleum products, and production inputs for local industries.
During his meeting with Central Bank Governor Hassan Abdalla, President El-Sisi reiterated the necessity of maintaining coordinated efforts between the government and the Central Bank to ensure a unified and flexible exchange rate policy. He emphasized that a stable currency environment, underpinned by steady dollar inflows, is critical for preserving market confidence and bolstering the country’s ability to meet both domestic consumption needs and production demands.
The President also directed state institutions to intensify initiatives aimed at increasing foreign currency revenues, particularly through domestic resources. In this context, he stressed the need for a sustained and strategic push to attract more foreign direct investment and empower the private sector as a key engine of economic growth.
“Expanding opportunities for the private sector and reinforcing investment incentives are essential to unlocking Egypt’s economic potential,” El-Sisi stated. “We must create a climate that enables businesses to thrive and draws more international capital into the economy.”
According to presidential spokesperson Ambassador Mohamed El-Shenawy, the meeting also covered a broad assessment of current economic indicators. These included recent improvements in controlling inflation and ongoing efforts to build up the country’s foreign currency reserves amid persistent global uncertainty.
The discussions also touched on global economic challenges and their implications for Egypt’s macroeconomic environment. Participants evaluated the risks posed by international financial volatility and supply chain disruptions, and explored measures to shield the national economy from external shocks.
Special attention was given to the role of the private sector as a driver of sustainable development. The President called for expanding access to financing for private enterprises and ensuring that entrepreneurs have the tools they need to contribute meaningfully to national growth. He stressed that enabling a more competitive and inclusive private sector will not only support economic diversification but also foster job creation and innovation.
The meeting concluded with a renewed commitment to policy coordination and transparency in navigating the evolving global and domestic economic landscape.
