Egypt's economy strong enough to cope with foreign crises

The Governor of the Central Bank of Egypt (CBE) Tarek Amer has stressed that Egypt’s economy has become stronger to cope with foreign crises and challenges due to the country's successful economic reform program.

Speaking to CNBC, he reiterated that the national economy has proved its capability to face global challenges.

He cited that the national economy successfully overcame challenges resulting from the trade war between the United States and China in 2018.

Amer said that the CBE closely follows up global economic developments given the bank’s great experience to handle crises starting from the 2008 financial crisis until 2018.

He added that such challenges have no impacts on the national economy or foreign cash reserves in terms of improving growth rates and decline of inflation.