Hassan Abdullah, Governor of the Central Bank of Egypt, confirmed that the central bank governor is not responsible for determining currency appreciation or exchange rates, stressing that the central bank’s main role is focused on setting the regulatory framework, controlling economic stability, and designing monetary policy aimed first and foremost at controlling the inflation rate.
During his participation in the Second Al-Ula Conference of Emerging Market Economies in 2026, Prime Minister Abdullah explained that the fundamental goal of the central bank’s work is not to determine the exchange rate, but rather to control the inflation rate and maintain currency stability, stressing that focusing on these priorities will increase the efficiency of economic policy in the medium to long term.
He pointed out that the Egyptian economy had entered a period of great transformation, a phase that posed extraordinary challenges to economic performance, especially after a period of instability, including external trade restrictions aimed at preserving foreign exchange.
crisis in egypt
The central bank governor noted that the crisis faced by Egypt’s economy contributed to the decline in its credit rating, before entering into a phase of economic reform aimed at addressing structural imbalances and improving financial stability indicators.
Prime Minister Abdullah stressed that the economic reforms are primarily focused on combating rising inflation rates, in addition to implementing more flexible policies, particularly with regard to exchange rates, with emphasis on achieving a balance between supply and demand, ensuring market efficiency, and curbing rapid fluctuations.
He added that the decline in Egypt’s inflation rate has contributed to improving the level of confidence in the Egyptian economy, noting that combating inflation is one of the most prominent goals that central banks around the world are trying to achieve at this stage.
He pointed out that in line with the improvement of macroeconomic indicators and the increasing role of the private sector in economic activities, Suez Canal revenues are trending towards improvement, which reflects the positive development of Egypt’s economic structure.
The Governor of the Central Bank of Egypt concluded by stressing that the Egyptian economy not only has the necessary capabilities to achieve growth, but also strengthens its ability to withstand shocks and face future challenges.
Hassan Abdullah, Governor of the Central Bank of Egypt, confirmed that the central bank governor is not responsible for determining currency appreciation or exchange rates, stressing that the central bank’s main role is to establish a regulatory framework and formulate monetary policy aimed at ensuring economic stability, among other things, controlling the rate of inflation.
During his participation in the 2nd Al-Ula Conference for Emerging Market Economies in 2026, Prime Minister Abdullah explained that the core objective of a central bank is not to determine exchange rates, but rather to control inflation rates and maintain currency stability, stressing that focusing on these priorities will increase the efficiency of economic policy in the medium to long term.
He noted that Egypt’s economy is undergoing an important transformation phase after a period of instability, including, among other things, external trade restrictions aimed at preserving foreign exchange, suggesting that this phase poses extraordinary challenges to economic performance.
crisis in egypt
The central bank governor noted that the crisis facing Egypt’s economy contributed to the decline in its credit rating, after which it entered a phase of economic reforms aimed at addressing structural imbalances and improving financial stability indicators.
Prime Minister Abdullah confirmed that economic reforms are primarily focused on combating rising inflation, as well as implementing more flexible policies, particularly with regard to exchange rates, striving to balance supply and demand, ensure market efficiency, and limit sharp fluctuations.
He added that the decline in Egypt’s inflation rate has contributed to improving the level of confidence in the Egyptian economy, noting that combating inflation is one of the most prominent goals that central banks around the world are trying to achieve at this stage.
He pointed out that, reflecting the positive development of Egypt’s economic structure, revenues from the Suez Canal are showing signs of improvement, consistent with the improvement of macroeconomic indicators and the increasing role of the private sector in economic activities.
The Governor of the Central Bank of Egypt concluded by affirming that the Egyptian economy has the necessary capabilities to achieve growth, in addition to strengthening its ability to withstand shocks and face future challenges.
