Egyptian Prime Minister Mostafa Madbouly met Central Bank of Egypt Governor Hassan Abdalla on 15 June to review economic coordination, local media reported, as part of ongoing follow-up of coordination between the government and the central bank to support economic stability.
REASONS FOR COORDINATION
The two stressed continued coordination between fiscal and monetary policy and discussed efforts to build up reserves of essential commodities, petroleum products and production inputs, confirming that financial resources were available to secure petroleum products and fuel for power stations, especially during the summer.
The two sides said continued coordination between fiscal and monetary policy would help strengthen the stability of the Egyptian economy and preserve the positive indicators achieved recently.
They said securing fuel for power stations would help keep the electricity grid stable and meet rising energy demand.
Sources: Masrawy; El Watan
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