In a televised news conference held at Alexandria Port on Thursday, Egypt’s Prime Minister, Dr. Moustafa Madbouli, expressed the government’s confidence in its ability to address the demand for foreign currency effectively. Dr. Madbouli highlighted that the government’s priority lies in ensuring essential supplies, medications, fuel products, and supporting the industrial sector, with less emphasis on consumables.
Emphasizing the importance of preserving foreign exchange reserves, the Prime Minister underscored the administration’s commitment to promoting domestic manufacturing to reduce reliance on imports. To bolster exports and increase foreign currency inflows, Dr. Madbouli outlined measures focused on optimizing spending, completing ongoing projects, and revitalizing local production capacities.
Dr. Madbouli also revealed stringent directives to tackle illicit foreign currency activities, aiming to restore remittance levels to historical norms. He stressed the government’s efforts to establish a unified official foreign exchange market, signaling a concerted effort to stabilize the Egyptian economy.
