Bloomberg, an international media company specializing in financial information, analytics and market data, reported that Egypt is devaluing its currency by more than 38%. What is behind this and how did the devaluation affect the prices of Egyptian hotels by the sea for Belarusians?
Devaluation in Egypt Bloomberg called “long-awaited” – from the position of the authorities. As the country’s leadership expects, this should help Egypt receive additional billions of loans from the International Monetary Fund. We are talking about increasing the current loan of 3 billion dollars to more than 10 billion.
According to the media company, in the near future, devaluation could cause inflation and hit the incomes of Egyptians. But President Abdel-Fattah el-Sisi and officials are betting on reforms that they hope will attract foreign investors to the country and finally end the economic crisis.
What will happen to the prices for tickets?
A reasonable question for citizens of our country, many of whom choose to vacation near the Red Sea: will vacation prices go down due to the devaluation of the Egyptian pound?
Onliner asked This question is for the specialists of travel agency “A”. Tour operators responded that they were already noticing a significant reduction in prices for the very next flights. However, they clarified that in general – if we consider more distant dates and holiday periods – prices still remain at the same values. And they emphasized that the situation can change quite quickly.
Telegraf previously wrote that charters to Egypt from Gomel and Vitebsk had resumed.
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