Cairo: Cabinet spokesman Mohamed El Homsani announced that the recent stability of the exchange rate and the appreciation of the Egyptian pound against the US dollar signal robust economic activity, rather than speculative capital inflows. In his radio statements, El Homsani emphasized that this development is indicative of the underlying strength of the economy.

According to State Information Service Egypt, El Homsani also pointed out several key economic indicators. Inflation has decreased from 14% to 13% as of July, exports have surged by over 22%, and sectors such as tourism and remittances from Egyptians living abroad have shown improvement.

El Homsani highlighted a recent meeting between President Abdel Fattah El Sisi and Ugandan President Yoweri Museveni, which he stated reaffirms Egypt's rights to the Nile waters while also supporting development initiatives in Nile basin countries.

The spokesman further discussed Prime Minister Mostafa Madbouli's visit to Jordan, which featured discussions with King Abdullah II. The talks covered various topics, including energy, transport, industrial integration, and the status of Egyptian workers in Jordan, culminating in the signing of several bilateral agreements.

On the domestic front, El Homsani confirmed that the Cabinet has approved new regulations to better manage landlord-tenant relations under the old rent law. These measures include recording non-residential units and offering relocation options via an online platform and post offices, with a processing time of three months for requests.

Additionally, El Homsani mentioned that a comprehensive plan to update the country's media system is in the works. This plan is set to be presented to President El-Sisi, following his recent meeting with media leaders.