Egyptian President Abdel Fattah Al-Sisi on Monday stressed the need to continue efforts to increase the country's foreign currency reserves, particularly from local sources, and to maintain a flexible and unified exchange rate, the presidency said. Al-Sisi's comments came during a meeting with Central Bank of Egypt (CBE) Governor Hassan Abdalla to discuss the performance of the Egyptian economy.
According to a presidential spokesperson, the meeting covered efforts to continue reducing inflation rates and indicators related to boosting the state's foreign exchange reserves. They also reviewed the global economic situation and the impact of international challenges on the macroeconomy. "The president emphasized that the sufficient availability of dollar resources positively reflects on providing a reassuring stock of various commodities, petroleum products, as well as production inputs for factories," the spokesperson, Mohamed El-Shennawy, said in a statement. Egypt's net international reserves climbed to $49.036bn in July 2025, up from $48.700bn in June—an increase of approximately $336m.
This marks the highest level of foreign currency reserves ever recorded in Egypt, supported by stronger inflows from export earnings, tourism revenues, remittances from Egyptians abroad, and foreign direct investment.
Al-Sisi also called for continued coordination between the government and the central bank to ensure the maintenance of a flexible and unified exchange rate for foreign currency. The meeting also addressed providing opportunities and financing for the private sector to drive economic growth, attract more investment flows, and maximize the private sector's role in economic activity. In this context, the president directed that incentives be enhanced to take advantage of available economic opportunities and that the private sector be empowered to drive growth. He stressed the need for "intensive work to provide favourable conditions for attracting more foreign investment and empowering the private sector," the spokesperson said.
