Egyptian Prime Minister Mostafa Madbouly said that the government took urgent measures from the first hours of the war to address potential economic repercussions and maintain stability.
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Speaking before the House of Representatives, Madbouly said that the government had prepared for multiple crisis scenarios, adding: “As a government, we considered various scenarios, understood the nature of the war and took economic decisions that contributed to the stability of the Egyptian economy.”
Madbouly added: “We are closely monitoring the crisis, thoroughly studying its repercussions and acting swiftly and decisively, while working to mitigate the impact.”
Describing the steps taken to absorb the shock, Madbouly said that a crisis committee, including all relevant bodies, had been formed in the first hours of the war to monitor international developments and their impact on trade and the economy.
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He explained that a comprehensive package of proactive measures had been put in place, including securing energy needs and ensuring supply chains, which he said had strengthened the economy’s ability to absorb shocks and remain resilient.
The remarks were delivered during a plenary session of the House of Representatives, in line with parliamentary procedures that allow the prime minister and government ministers to present updates on issues within their remit for discussion or committee review.
