Egyptian Prime Minister Mostafa Madbouli announced that the foreign exchange reserves have continued to record monthly increases, reaching $50.216 billion currently, an increase of about $145 million compared to last month. Madbouli stated during his weekly press conference that this improvement reflects full coordination between the government and the central bank to control inflation and gradually reduce interest rates. This allows the private sector and citizens to benefit more from credit facilities. Data on inflation released today showed that the urban inflation rate decreased to 12.3% from 12.5% in the previous month, while the annual inflation rate nationwide was 10%.
