The head of Al-Jeel praised the IMF statements, called for stricter control of the market and now thanks for reading the news with details of the news
Cairo – Samia Syed –
Nagi El-Shehabi, head of the Generation Party and general coordinator of the National Coalition of Egyptian Political Parties, confirmed that the International Monetary Fund has welcomed the measures taken by the Egyptian government regarding the liberalization of the exchange rate of the pound as it is expected. It was part of the negotiations with the Egyptian government and the Central Bank. The Egyptian government promised to move towards “permanent flexibility in exchange rates” and a commitment to strengthen social protection, a good thing that prompts the Egyptian government to take. More social protection measures, which will help workers and the middle class cope with the increasing burdens of life due to high inflation and high prices and increased costs.
Al-Shihabi indicated that the International Monetary Fund’s appreciation of the Egyptian government’s actions would help secure another financing package for several years, including five billion dollars for the fiscal year ending in June 2023, and the announcement of the fund’s appreciation. The government of Egypt is satisfied with its economic policy, which gives it broad international and regional support.
El-Shihabi stressed that the fund’s agreement with the Egyptian government would facilitate the expansion of financing and reduce the government’s public debt.
On the other hand, Naji al-Shihabi, head of the Generation Party and general coordinator of the National Coalition of Political Parties, called on the government to tighten control over markets, combat the greed of traders, and maintain the availability of essential and vital goods. and market products, and reduce the effects of the devaluation of the pound on inflation rates and the monopolistic practices of some market controllers.
At the same time, Nagi al-Shihabi called on the Egyptian government to go firmly on the path of establishing industries in Egypt and attracting global factories suffering from energy problems and their shortages and high costs to establish branches in Europe. In Egypt, where energy is available, the establishment of the Ministry of Cheap Labor and Small and Medium Enterprises is a solid base for the industry of the Egyptian economy and ensures continuity of operations and production cycles in various factories, thereby achieving stability. For workers and their families.
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