Egypt boosts strategic stockpiles after Israel-Iran clash

Egypt is stepping up efforts to increase its strategic reserves of essential goods in response to rising regional instability following Israel’s military strike on Iran.

Prime Minister Mostafa Madbouly said the government is closely monitoring the situation and has initiated coordination between the Central Bank and the Ministry of Finance to bolster the country’s supplies, Caliber.Az reports per foreign media.

“We are following developments very carefully,” Madbouly said in a statement released by the Egyptian Cabinet.

“There is ongoing coordination between the Central Bank Governor and the Finance Minister to increase strategic reserves of key commodities.”

The Prime Minister also noted that a meeting will be held with the Ministers of Electricity and Petroleum to assess potential scenarios and prepare for possible repercussions of the military escalation in the region.

By Aghakazim Guliyev