CAIRO, June 19 (MENA) – Prime Minister Mostafa Madbouli said that Egypt’s banking sector is providing the necessary foreign currency for importing essential goods and production inputs.

During a meeting of the Supreme Committee for Market Regulation and Commodity Prices, Madbouli confirmed that the government is maintaining strategic reserves, improving market oversight, and working to prevent monopolies.

He urged traders and manufacturers to help lower inflation, stressing that interest rates will not drop unless inflation does.

For his part, Ahmed el Wakil, head of the Federation of Egyptian Chambers of Commerce, said that prices have stabilized compared to 2024, with reserves of some goods covering up to nine months.

Industrial chamber representatives added that factories are operating at full capacity, production is steady, and the Central Bank is meeting foreign currency demands.
(MENA)
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