Egyptian President Abdel Fattah al-Sisi ordered continued efforts to maintain a steady decline in inflation rates.
He also directed coordination between the government and the Central Bank of Egypt (CBE) to ensure the maintenance of a flexible and unified foreign exchange rate, while working to develop alternative credit assessment models.
A statement from the Egyptian Presidency said that during his meeting with the Governor of the CBE, Hassan Abdallah, on Sunday, the president was briefed on developments related to enhancing the performance of the banking sector, increasing dollar inflows, and indicators for strengthening the state’s foreign exchange reserves.
Abdallah said that the country’s foreign exchange reserves are available at very reassuring levels.
Sisi affirmed the continuation of efforts to secure the dollar needs needed for production and to enhance the strategic stockpile of various commodities, ensuring increased supply and availability at reasonable prices.
President Sisi reviewed all the executive and logistical details and arrangements for the various activities of the Grand Egyptian Museum’s inauguration, scheduled for November 1, including all work completed and the ongoing development of the area surrounding the museum.
During his meeting with Prime Minister Mostafa Madbouly and Minister of Tourism and Antiquities Sherif Fathy on Sunday, President Sisi called for closely monitoring all details on the ground to ensure the museum’s opening befits its status as a global cultural and archaeological landmark.
He also emphasized the need to continue working to develop the visual image of the surrounding area.
And the president further called for the private sector to play a pivotal role in tourism investment, contributing to increasing the number of incoming tourists, developing tourism infrastructure, achieving diversity in destinations, developing a marketing plan targeting new markets, maximizing dollar revenues from the tourism sector, and governing the system to ensure its sustainability.
