Egypt's Central Bank Governor, Hassan Abdullah, emphasized the country's strong banking structure that has enabled it to withstand crises since 2008.

He emphasized in press statements the difference in the impact of monetary policy in advanced countries, which takes six months to reflect in the economy, compared to the longer timeline in Egypt.

Abdullah noted that Egypt is continuously working to improve the impact of its monetary policy on the economy, especially by increasing interest rates. Despite the negative yields that are prevalent globally, he assured that the country is committed to controlling inflation, and raising interest rates is not the only available tool.

In previous statements, Abdullah had mentioned that the global economic situation would not worsen further, but he warned that an unforeseen shock could occur. Therefore, he called for contingency plans to prepare for and handle any new shocks.

Egypt's sturdy banking structure and ongoing efforts to strengthen monetary policy are positive indicators for the country's economic prospects. Despite the challenges, Egypt is cautiously moving forward, with plans to mitigate risks and maintain stability.

Moreover, Egypt's economy has demonstrated remarkable resilience over the years. The government has implemented structural reforms, leading to an improvement in economic growth and a more favorable business environment.

With a large population and strategic location, Egypt has great potential for economic growth and development in the future.