Cairo: Prime Minister Mostafa Madbouli chaired a meeting of the Central Crisis Management Committee on Tuesday to follow up on the repercussions of the ongoing military escalation in the region. The meeting was attended by Deputy Prime Minister for Economic Affairs Hussein Eissa, Governor of the Central Bank of Egypt Hassan Abdalla, and several key ministers and officials.
According to State Information Service Egypt, the meeting reviewed a report prepared by the committee's technical secretariat on key economic and political developments related to the current crisis. The report highlighted potential impacts on global and domestic economies based on various conflict scenarios, affecting major economic indicators, energy supplies, global oil prices, supply chains, international trade flows, and global economic growth rates.
Regarding domestic impacts, the committee examined outputs from a monitoring platform launched by the Information and Decision Support Center, which provides daily indicators tracking commodity prices and stocks, global oil prices, navigation in the Suez Canal, foreign exchange rates against the Egyptian pound, and electricity production and consumption.
The meeting also reviewed measures implemented in line with presidential directives to address the crisis, particularly in the economic and energy sectors, including monitoring global and local markets. Cabinet spokesman Mohamed el Homsany stated that the CBE governor discussed developments regarding securing financing for essential goods, production inputs, and foreign currency inflows to ensure uninterrupted market supply.
The meeting further addressed ongoing efforts to rationalize public spending across government entities amid fast-evolving geopolitical tensions affecting global supply chains and trade. A comprehensive report assessing the economic impact of regional crises on Egypt's economy was examined, along with proposed scenarios to address volatility in global energy markets while maximizing export opportunities.
On food security, the meeting reviewed the status of wheat supplies, noting reassuring strategic reserves sufficient to cover local demand for several months. Mechanisms for stable supply and import source diversification were discussed in coordination with relevant entities.
The spokesman also highlighted preparedness plans to secure sustainable natural gas supplies through diversified sourcing, as well as the operation of an integrated digital system for managing petroleum products. Current supply levels and strategic reserves of petroleum products and natural gas were deemed secure and sufficient to meet the needs of vital sectors and the local market, ensuring system stability and resilience against potential disruptions.