Prime Minister Moustafa Madbouli said Monday that Egypt is following up developments of the current global crises with the aim to reduce their severe repercussions for the Egyptian economy.

Madbouli was speaking during a meeting with Petroleum Minister Tareq el Molla to discuss efforts to secure oil products to meet needs of the local market, especially in light of the Russian-Ukrainian tension.

The meeting also took up the global energy price hikes, with Molla assuring that the petroleum sector is acting to increase Egypt’s production of high quality oil and reduce imports.

Source: State Information Service Egypt