CAIRO, Feb 3 (MENA) - Prime Minister Mostafa Madbouli affirmed that the success of the Egyptian State in luring more hard currency to the national economy, thanks to measures taken to ensure a flexible exchange rate system.

Madbouli, meanwhile, lauded continued coordination between the Central Bank of Egypt (CBE) and the relevant ministries in order to provide the foreign currency needed to import the various commodities.

Madbouli's remarks were made during a meeting held on Monday at the government's premises in the New Administrative Capital (NAC) to discuss several important files related to the economic sphere.

The meeting, which was attended by Central Bank of Egypt (CBE) governor Hassan Abdullah and Finance Minister Ahmed Kouchouk, tackled a host of issues of great importance, including coordination efforts between the government and the CBE to provide the financial funds required to enhance the strategic stock of various commodities, said Cabinet Spokesman Mohamed el Homosani.

The meeting also discussed the foreign exchange reserves, which increased to reach $47.109 billion last December against $46.952 billion in November 2024, added the spokesman.

Madbouli further said that remittances from Egyptians working abroad continued their consecutive surges, noting that they increased from January to November 2024 by 47.1% to reach about $26.3 billion against $17.9 billion during the same period in 2023. (MENA)

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