Egypt's Prime Minister, Dr. Mostafa Madbouly, has directed the government to closely monitor markets and prevent any price increases amid rising oil prices. This move comes as the global oil price has exceeded $100 per barrel due to regional and international crises. The government has assured that there is a sufficient stockpile of strategic goods and is working to increase it to meet the country's needs.
According to Mohamed Adel, the spokesperson for the Egyptian Council of Ministers, the government is taking measures to ensure the availability of essential goods. He made these remarks during a phone interview on the "Ten" channel. Adel highlighted that despite the current regional and global challenges, Egypt achieved a growth rate of 5.1% in the last fiscal year, one of the highest in the Middle East.
The Prime Minister has instructed the relevant authorities to boost the strategic stockpile of goods and secure the country's needs, especially with oil prices rising due to regional and international crises. This directive aims to mitigate the potential impact of these price hikes on the domestic market. The government's efforts focus on maintaining economic stability and ensuring the availability of essential goods.
In addition to monitoring markets and managing the stockpile of strategic goods, the Prime Minister has emphasized the importance of raising awareness and securing the country's internal front. The government plans to intensify its efforts in this area, with each ministry playing a role in increasing public awareness. This initiative aims to address and counter any misinformation or rumors that may circulate.
The government is preparing for a conference in October, which will address public concerns and questions. The conference, led by Prime Minister Madbouly, will provide an opportunity for the government to present its achievements over the past few years and discuss the challenges it faces. The event aims to promote transparency and offer insight into the government's vision for addressing current issues.
The upcoming conference will showcase the government's accomplishments and the challenges it has encountered. It will also provide a platform for the government to outline its strategies for overcoming these challenges. Through this event, the government seeks to engage with the public, address their concerns, and demonstrate its commitment to transparency and accountability.
The Egyptian government's proactive measures to monitor markets, manage strategic stockpiles, and engage with the public reflect its efforts to maintain economic stability and address the challenges posed by rising oil prices. By taking a comprehensive approach, the government aims to mitigate the impact of these price increases on the domestic market and ensure the continued availability of essential goods.
Key points
- Egypt's government directs authorities to monitor markets and prevent price hikes amid rising oil prices.
