Al-Sisi Reviews Banking Sector, Calls For Boosting Foreign Reserves

2025-09-13 11:03:11

(MENAFN- Daily News Egypt) President Abdel Fattah Al-Sisi reviewed the performance of Egypt's banking sector on Saturday, urging continued efforts to strengthen foreign exchange reserves and secure financing for development projects, the presidency announced.

Al-Sisi met with Prime Minister Mostafa Madbouly, Central Bank Governor Hassan Abdalla, and presidential financial adviser General Ahmed El-Shazly to assess economic reforms and financial stability.

Presidential spokesperson Mohamed El-Shenawy said the meeting discussed measures to bolster the banking system, increase foreign currency revenues from domestic sources, and reinforce Egypt's foreign reserve position.

The president was also briefed on government efforts to curb inflation and structural reforms aimed at improving financial indicators. Central Bank Governor Hassan Abdalla reported that Egypt's external debt-to-GDP ratio remains within safe limits. He noted that domestic foreign currency resources reached a record high in August 2025, covering all obligations and generating a surplus.

El-Shenawy added that Al-Sisi stressed the importance of reducing external debt, ensuring adequate dollar liquidity to guarantee commodity availability, and maintaining a flexible exchange rate regime.

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