Egypt's domestic hard currency resources have been sufficient over the past two months, particularly last month, to fully meet the country's foreign currency needs without limiting industrial or production activities, Egypt's Prime Minister Moustafa Madbouly has told reporters as per a Cabinet statement. He stressed that there are no pending requests or waiting lists for the release of goods, commodities, or essential production inputs, adding that the situation remains stable. This, he said, is clearly reflected in the growth achieved by Egypt's private sector. Madbouly noted that Egypt has covered all of its foreign currency uses, including petroleum-related needs, through available local foreign exchange resources from various sectors. He described this as highly significant, considering Egypt spends around $2 billion monthly on petroleum requirements. These include fuel for vehicles, electricity production, industrial operations, and other sectors. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
