Prime Minister Mostafa Madbouly said the government is stepping up efforts to secure and maintain reassuring strategic reserves of petroleum products in light of prevailing regional uncertainty and to safeguard market stability amid ongoing geopolitical tensions.
Madbouly said the government is closely monitoring regional developments and their potential repercussions on a continuous basis. He stressed that authorities are operating under flexible contingency plans and alternative scenarios designed to address all possible developments, ensuring uninterrupted energy supplies and meeting the needs of citizens as well as all productive sectors.
The meeting was attended by Central Bank of Egypt Governor Hassan Abdalla, Minister of Finance Ahmed Kouchouk, Minister of Petroleum and Mineral Resources Karim Badawi, Deputy Central Bank Governor Tarek El Khouly and other senior officials. During the meeting, Badawi presented a comprehensive review of available stocks of various petroleum products and outlined the measures currently being implemented to increase the country's strategic reserves in the coming period as a precaution against geopolitical risks in the region.
The meeting also reviewed coordination mechanisms between the Ministry of Finance and the Central Bank of Egypt to ensure the sustainable provision of the financial resources needed to build and maintain strategic petroleum reserves, with the aim of preserving domestic market stability and supporting all service and productive sectors.
The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital