Egyptian Prime Minister Mostafa Madbouly met with Central Bank of Egypt (CBE) Governor Hassan Abdalla on Sunday to discuss measures to strengthen financial and monetary stability. The meeting was part of regular discussions to coordinate between the government and the central bank. They reviewed priority economic issues and mechanisms to achieve stability. The discussions focused on ongoing coordination to prepare the National Economic Transformation Programme.
The meeting reviewed areas of joint work, including coordination to prepare the National Economic Transformation Programme. They also discussed the impact of measures taken to reduce inflation and increase dollar inflows. The goal is to ensure foreign exchange reserves remain at safe levels to cover strategic requirements for essential commodities. This is crucial for maintaining economic stability.
The two sides discussed ongoing efforts to strengthen strategic stocks of various commodities. This is essential for ensuring the availability of essential goods and maintaining economic stability. They also reviewed key indicators of the Egyptian economy’s performance during the period. This included recent economic data and trends.
The CBE recently announced that remittances from Egyptians working abroad rose by 28.1% between January and July 2026. The remittances reached around $29.7bn, compared with around $23.2bn during the same period a year earlier. This significant increase in remittances is a positive indicator for the Egyptian economy.
Remittances from Egyptians working abroad continued their upward trajectory in July 2026. They rose by 20% to $4.5bn, compared with around $3.8bn in July 2025. This growth in remittances is expected to have a positive impact on the Egyptian economy. It will help to increase foreign exchange reserves and support economic stability.
The meeting between Prime Minister Madbouly and CBE Governor Abdalla reflects the ongoing efforts of the Egyptian government and central bank. They are working together to address economic challenges and achieve stability. The discussions highlighted the importance of coordination between the government and the central bank in addressing economic issues.
The Egyptian government and central bank are taking steps to strengthen financial and monetary stability. They are working to reduce inflation, increase dollar inflows, and maintain foreign exchange reserves. These efforts aim to support economic growth and stability in Egypt.
Key points
- Egyptian Prime Minister Mostafa Madbouly met with Central Bank of Egypt Governor Hassan Abdalla to discuss financial and monetary stability measures.
- Remittances from Egyptians working abroad rose by 28.1% between January and July 2026 to around $29.7bn.
- The meeting aimed to coordinate between the government and the central bank on priority economic issues and mechanisms to achieve stability.
