Egyptian Prime Minister Mostafa Madbouly and Central Bank of Egypt (CBE) Governor Hassan Abdalla have affirmed that Egypt’s foreign exchange reserves remain at secure levels to cover critical imports and service external debt.
Egypt’s Prime Minister Mostafa Madbouly and Central Bank Governor Hassan Abdalla confirmed on Monday that the nation’s foreign exchange reserves remain at safe levels, fully capable of covering strategic needs for essential commodities.
During a meeting in New Alamein City to review key economic priorities both officials reaffirmed their ongoing coordination to strengthen strategic supplies of essential goods. Talks centered on aligning fiscal and monetary policies, driving down inflation, boosting foreign currency inflows and advancing structural economic reforms.
Madbouly stressed the need for full alignment in shaping a national economic transformation program, stating that this unified strategy will sync monetary, fiscal and sectoral policies to deliver a clear, positive impact on the economy.
On the digital transformation front, Abdalla announced during the session that the central bank’s board of directors has approved regulatory guidelines for a digital financial identity system, enabling the electronic verification of bank customers.
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The governor explained that the new regulations establish a comprehensive framework covering system administration, partner responsibilities, and strict cybersecurity standards. The initiative supports the state’s drive toward digital financial services and broader financial inclusion while maintaining global security standards.
