Prime Minister Mostafa Madbouly announced that the government has initiated steps towards establishing a strategic supply of essential commodities to regulate market dynamics, as per a statement released by the Cabinet on Sunday.
Madbouly highlighted the ongoing challenge of rising prices despite recent economic interventions by the government, which have bolstered dollar availability within the banking system, thereby easing the burden on traders operating in the parallel market.
He emphasized the need for various state bodies to shoulder the responsibility of maintaining a strategic reserve of essential goods, emphasizing that the state's actions are not aimed at undermining the private sector but rather at ensuring market stability, particularly during periods of crisis.
Madbouly urged ministers and relevant authorities to assess the actual requirements for essential goods, paving the way for their importation and distribution to contribute to price stabilization in markets.
Additionally, the Prime Minister instructed the examination of increasing the strategic reserve of essential goods by approximately 20%, coupled with the formulation of an operational strategy to respond swiftly to crises, thereby enhancing the government's capacity for intervention and achieving the desired balance in markets.
