Egyptian Prime Minister Mostafa Madbouly and Central Bank Governor Hassan Abdalla met to coordinate the preparation of the National Economic Transformation Programme, designed to align fiscal, monetary, and sectoral policies under directives from President Abdel Fattah al-Sisi.
Locking in Targets for Sustainable Growth
The upcoming programme aims to establish an integrated framework for Egypt’s next phase of development. The initiative focuses on sustainable growth, heightened productivity, and increased competitiveness.
Prime Minister Madbouly noted that the government is currently reviewing and verifying data and figures submitted by various ministries. These targets must be locked in before the final draft goes to President Sisi for an official launch.
Private Investment Across Five Pillars
Planning and Economic Development Minister Ahmed Rostom reported substantial groundwork behind the initiative. The government has held 11 meetings with relevant ministers alongside more than 34 technical meetings to shape the strategy.
The framework centers on expanding private investment across five key pillars: industry, agriculture and food processing, tourism, telecommunications and information technology, and energy security.
Resilient Growth and Falling Inflation
Ahead of the rollout, recent economic indicators show rising resilience. Economic growth reached 5.1 percent in fiscal year 2025/2026. This is up from 4.4 percent the previous year and outpaces forecasts from major international institutions.
Meanwhile, monthly headline inflation dropped to 12.7 percent in August. That compares to 13 percent during the same month a year earlier.
Securing Foreign Reserves and Dollar Inflows
During their coordination talks, Madbouly and Abdalla focused heavily on mechanisms to enhance monetary and financial stability, curb inflation, and drive dollar inflows. The officials confirmed ongoing cooperation to maintain safe levels of foreign exchange reserves capable of securing strategic requirements for basic commodities.
The discussions tie directly into broader state efforts to translate macroeconomic stabilization into tangible improvements for citizens. The ultimate goal is to generate jobs and bolster high-value export sectors.
Regional Banking Ties and Artificial Intelligence
Governor Abdalla also briefed the prime minister on his recent diplomatic travel. This included his leadership of Egypt’s delegation at the 48th Annual Meetings of the Association of African Central Banks in Nairobi, Kenya, held from September 13 to 18. The summit brought together 34 central bank governors from 41 member institutions representing 53 African nations.
On the sidelines of the Nairobi meetings, Abdalla attended the 14th meeting of the Pan-African Payment and Settlement System (PAPSS) Governing Council. “These participations come within the framework of keenness to support banking relations at the regional level, and enhance economic and trade cooperation with various African countries,” Abdalla stated.
Additionally, the central bank governor participated in a high-level conference on artificial intelligence applications in central banking. Hosted by the Central Bank of Kenya to celebrate its 60th anniversary, the AI forum centered on three core areas: monetary policy applications and financial stability, banking supervision and financial integrity, and AI governance alongside associated risk management. The sessions also explored utilizing AI to process large, diverse datasets to strengthen economic forecasting.
