Egypt is embarking on a new phase influenced by the consequences of recent U.S. decisions to implement tariffs, which may lead to potential inflationary pressures and a global economic downturn due to the ongoing trade conflict.
During a press conference today, following the weekly Cabinet meeting, Prime Minister Mostafa Madbouly made these remarks.
He highlighted that the current international tensions are already impacting global markets and could have cascading effects on developing nations.
In light of these global challenges, Madbouly assured citizens that the Egyptian government is dedicated to preserving economic stability and fostering sustainable growth to mitigate adverse effects.
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He noted that ensuring the availability of essential goods and promoting the localization of various industries are among the government’s highest priorities.
To support this approach, the Economic Ministerial Group has been assigned the responsibility of developing specific action plans aimed at ensuring macroeconomic stability in the near future.
Regarding national development initiatives, Madbouly announced that the Ministries Square area is set to be made available in June, as part of ongoing efforts to optimize and leverage state assets.
He also mentioned presidential directives aimed at accelerating the establishment of the Commodity Exchange, which is intended to regulate market activities and prevent price manipulation or exploitation.
