“There is no third quotation”. An economist: prices will fall within a month

Books – Muhammad Abu Al-Majd:

Dr Mostafa Badra, an economist, revealed the details of Egypt obtaining a $3 billion loan from the International Monetary Fund, saying: ‘Egypt had no alternative to this matter, and there will be no a third quotation of the pound in the next period, ” noting that Egypt had no alternative but to apply to the International Monetary Fund. In light of global challenges and high interest rates; This has again encouraged the return on investment. Granting Egypt a financial package that has helped improve the lives of citizens and complete the development path.

Badra added, in his interview with the “On My Responsibility” program on the “Sada Al-Balad” channel today, Sunday, that it is clear that the Russian-Ukrainian crisis will continue for a while, and the financial crisis and the increase the price of the dollar will affect all countries, explaining that the increase in commodity and commodity prices will cause an increase in commodity prices.

And he added that the IMF has postponed the approval of the granting of a loan to Tunisia. Because there are legislative elections, currently, and the absence of a state of stability; This from the Fund’s point of view, stressing that if Egypt does not go to the IMF, prices will rise exponentially, which the state’s capabilities cannot bear.

He explained that prices could fall within a month, under the directives of President Abdel Fattah El-Sisi, who has promised to resolve the crisis within two months. Entering the goods in the ports, underlining that there are those who spread rumors about the Egyptian economy to influence it, and the Monetary Fund underlined that there is no third quotation of the Egyptian pound.

Badra stressed that the whole world has entered the stage of inflationary stagnation, and if the Russo-Ukrainian war does not stop, the next one will be more difficult for the international community, adding: “Cash in the hands of citizens is very important and it must be preserved to overcome the present stage, and let whoever has a penny keep it”.

And he underlined the need to encourage tourism and industry to increase the state’s resources, and to work to overcome the obstacles faced by investors, suggesting that banks be opened so that citizens can deposit their money, both in sterling and in dollars, regardless of where it comes from, without asking : where did you get it from, indicating that this helps save dollar currency.

The economist concluded by pointing out that it is possible that the dollar will fall because it is like any commodity, and this happens in the event of an increase in state resources through investments, underlining that gold and investment certificates are a safe haven, while the real estate sector it is a slow investment available.