Al-Sisi Stresses Need Of Raising Foreign Exchange Reserves For Development

(MENAFN- Kuwait News Agency (KUNA)) CAIRO, Sept 13 (KUNA) -- Egypt's President Abdelfattah Al-Sisi has underlined the significance of increasing foreign exchange reserves and meeting required financial needs to enhance development.
This was declared on Saturday during a meeting Al-Sisi held with Prime Minister Moustafa Madbouli, the Governor of the Central Bank of Egypt Hassan Abdullah and presidential advisor for financial affairs Ahmad Al-Sahzli, presidential spokesman Ambassador Mohammad Al-Shennway said in a statement.
Al-Sisi also stressed the need of preserving a flexible exchange rate for foreign currency, it added.
He stressed the necessity of providing sufficient dollar resources in a way that reflects a positive impact on a reassuring stock of various goods and reduce debt, the statement added.
The meeting focused on the developments of boosting banking performance and efforts made to raise dollar earnings, mainly local resources, it noted.
Al-Sisi followed up on efforts of reducing inflation, and structural economic reforms carried out by the government, within the framework of improving economic and financial indicators, along tackling external debt.
Also, Abdullah said local resources of foreign currencies made a record level in August, 2025, in a way that ensures fulfilling all domestic obligations and achieving an actual surplus, the statement concluded. (end)
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