Egypt: Commodity stocks sufficient for safe consumption periods
Cairo - Ahmed Sabri: Prime Minister Dr. Mustafa Madbouly confirmed that President Abdel Fattah el-Sisi regularly monitors the implementation status of the food security system. The President reviewed the stocks of essential commodities, which were confirmed to be at highly reassuring levels, and that the state possesses sufficient commodity reserves to meet domestic consumption needs for safe periods, reaching up to a full year for some goods.
This came during the weekly government meeting chaired by Dr. Madbouly yesterday at the government’s headquarters in the New Alamein City, to discuss several topics and files.
The Prime Minister pointed to the continued state of cautious vigilance in the region, due to widespread tensions linked to ongoing conflicts, foremost among them the situation in Gaza and Lebanon and their regional spillovers, as well as mutual threats and political escalation between the United States and Iran. This occurred amid intensive diplomatic efforts and calls for de-escalation, which have cast a shadow on global economic conditions and stock markets, as well as supply chains. Oil prices are currently fluctuating between rises and falls, influenced by the uncertainty stemming from these geopolitical tensions in the Middle East, specifically concerns regarding navigation security in the Strait of Hormuz.
Madbouly emphasized that the state, under the leadership of President Abdel Fattah el-Sisi, is closely following events and striving to contain tensions and avoid escalation, while reaffirming Egypt’s consistent position on the necessity of resolving various disputes through peaceful means to preserve regional peace and stability, in coordination with various parties and international mediators.
On the economic front, Madbouly stated: “Among the good news this week, amidst these events, is that foreign currency reserves recorded a new increase by the end of July 2026, reaching $56.3 billion, compared to approximately $55.1 billion at the end of June 2026, achieving a monthly increase of about $1.2 billion. He confirmed that this reflects the continued strengthening of foreign reserves and supports the robustness of the external sector of the Egyptian economy.”
He added: “Another piece of good news is the signing of three cooperation protocols yesterday in New Alamein City. The first is between the General Authority for Tourism Development and the Future of Egypt Authority, to maximize the utilization of assets and support tourism development. The second is a cooperation protocol between the New Urban Communities Authority and the Future of Egypt Authority, to maximize asset utilization and support urban and investment development. The third involved the signing of an agreement to establish the ‘Egyptian City Transport’ company to operate the smart transportation system in new urban communities. He emphasized the state’s commitment to maximizing the economic value of its owned assets by enhancing cooperation among national institutions and adopting more efficient and flexible working mechanisms, thereby supporting the implementation of development projects, creating new investment opportunities, raising growth rates, and contributing to achieving the targets of Egypt’s Vision for Sustainable Development.”
