Egypt has no foreign currency crisis and will maintain stable electricity and gas supplies to factories despite the ongoing regional conflict, Prime Minister Mostafa Madbouly said on Tuesday. He asserted that the state has secured its strategic energy and commodity needs for several months despite regional military developments. Madbouly stated that Egypt faces “no crisis in providing foreign currency” and has no obstacles to importing any commodities in any quantity. He added that the Central Bank of Egypt continues to operate a flexible exchange rate system based on supply and demand. In the energy sector, Madbouly revealed that Egypt plans to drill more than 106 new exploratory wells this year in cooperation with international companies.

Source: Daily News Egypt March 03, 2026 15:57 UTC