Central Bank Picks Flexible Exchange Rate as Key Defense

Hassan Abdallah, Governor of the Central Bank of Egypt, affirmed that achieving monetary and banking stability is the bank's primary goal to support the stability of the national economy and address economic challenges. He pointed out that the bank aims to reduce the inflation rate to 7% by 2027 to enhance confidence in the economy and stabilize prices. He explained that the flexible exchange rate policy is considered the first line of defense for the Egyptian economy, but not the only one, emphasizing the importance of integrating economic policies to maintain monetary and banking stability.