Cairo: Prime Minister Mostafa Madbouly announced that the Egyptian government is ramping up efforts to secure and maintain robust strategic reserves of petroleum products. This move comes amid prevailing regional uncertainty and aims to safeguard market stability in the face of ongoing geopolitical tensions.

According to State Information Service Egypt, Madbouly emphasized that the government is vigilantly monitoring regional developments and their potential impacts continuously. He highlighted that authorities are operating under flexible contingency plans and alternative scenarios designed to address all possible developments, ensuring uninterrupted energy supplies to meet the needs of citizens and all productive sectors.

The high-level meeting, which focused on these critical issues, included the presence of 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, Minister Karim Badawi delivered a comprehensive review of the available stocks of various petroleum products. He also outlined the measures being implemented to increase the country's strategic reserves as a precaution against geopolitical risks in the region.

Coordination mechanisms between the Ministry of Finance and the Central Bank of Egypt were also reviewed during the session to ensure the sustainable provision of financial resources needed to build and maintain these strategic petroleum reserves. The ultimate aim is to preserve domestic market stability and support all service and productive sectors effectively.