Cairo: Prime Minister Mostafa Madbouli reiterated Egypt's firm stance rejecting the ongoing US-Israeli-Iranian war, stressing Cairo's outright opposition to the conflict since its outset and its full condemnation of attacks targeting Arab Gulf states, as well as Jordan, Iraq, and Lebanon.
According to State Information Service Egypt, Madbouli, speaking at the weekly press conference following the Cabinet meeting at the New Capital, said Egypt's position has been clearly articulated by President Abdel Fattah El Sisi on various occasions with leaders of brotherly countries and world leaders. The emphasis is on the rejection of war and condemnation of attacks in a bid to create common ground for halting military operations and opening the door for negotiations. He stressed that the conflict cannot be resolved militarily but requires a political solution.
The prime minister said Egypt's official stance, leadership, government, and people alike, is to stand in full solidarity with Arab countries facing attacks, affirming Cairo's readiness to provide all forms of support.
He added that the ongoing war has had significant global repercussions, particularly on countries in the region that are directly affected economically, warning that major international economic institutions have cautioned against the serious consequences of the conflict.
Madbouli said the rapid global developments and repercussions of the ongoing war are exerting direct and indirect impacts on various economies, including Egypt.
He added that the government began assessing the potential impacts since the outbreak of the crisis, noting that a central crisis committee was formed and meets regularly, up to two or three times a week, to monitor developments and address repercussions.
The premier said the latest meeting lasted more than three hours and focused on the war's economic impact, stressing that the main challenge facing Egypt and the world is the absence of a clear timeline for the conflict's end, amid estimates ranging from weeks to months, which negatively affects global economic stability.
He underscored the importance of addressing the crisis within its global context, noting that countries worldwide are experiencing inflationary waves and unprecedented price increases, including major economies, particularly in fuel and essential commodities.
The prime minister said the world is going through an exceptional crisis marked by extremely difficult conditions, with international expectations that the effects of the war will persist for a long period even after it ends, impacting economies worldwide.