Arab Finance: Prime Minister Mostafa Madbouly announced that the government aims to reduce inflation to 10% by 2026, following a decline to 12.5% in February, the lowest rate in three years.

Speaking at his weekly press conference, Madbouly said the drop in inflation confirms that Egypt is on the right track and that recent economic reforms, despite their challenges, are beginning to yield results.

He noted that Egypt has not seen this level of inflation since March 2022, with the decrease reflected in the stability and lower prices of key commodities, including food, vegetables, and fruits.

Madbouly also said he holds regular discussions with the Central Bank of Egypt (CBE) governor, signaling that changes in interest rates are expected as inflation continues to decline.

He reassured citizens that foreign currency resources are stable, highlighting the recent increase in foreign reserves and confirming that there are no outstanding dollar payment arrears.

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