Written by Iman Ali Wednesday, February 7, 2024 12:00 AM
Dr. Mustafa Abu Zaid, Director of the Egypt Center for Economic and Strategic Studies, considered that Fall in the price of the dollar In the parallel market during the past hours, it confirms the fragility of that market, which depends on speculation, and the ability of the Egyptian economy to recover from this current crisis and return to its correct reform path before the beginning of that crisis, affected by all global and regional economic variables, especially with the increasing talk about the arrival of foreign investments. directly.
He pointed out in a statement to “Youm 7” that this step will have a positive impact on the Egyptian economy in restoring investors’ confidence to return to investing in the Egyptian economy, in addition to restoring the ability to provide the dollar necessary for the process of importing production requirements in the local manufacturing process to reset the course of production costs and thus Influencing the rise in prices and returning them to a downward path contributes to addressing the current inflation crisis and alleviating the inflationary burdens that citizens are experiencing.
He added that these measures contribute to developing effective economic policies at the financial and monetary levels, especially with the state of dialogue and discussion that we are currently engaged in. I am honored to be among the experts who put forward proposals and recommendations in preparation for the launch of the national economic dialogue with the government presenting the strategic directions document for the Egyptian economy during the next six years.
The dollar had witnessed a decline in the black market by about 25%, as the price of the dollar in the parallel market “black market” witnessed a noticeable decline during the past days, after recording levels that reached 70 pounds. The dollar in parallel began a downward journey to levels that reached 56 pounds in trading. Now a decrease of 25%.
2024-02-06 22:00:00
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