Hisham Badawy confirmed Economistthat decision interest rate increase After 3 meetings of the Central Bank and the interest rate increase, a proactive step was taken to confront inflation and raise the interest rate to attract liquidity from citizens, explaining that inflation The Egyptian market suffers from many factors.
Hisham Badawy added, during a video conference intervention on the “Cairo Talk” program, with the journalist Ibrahim Issa, on Al-Qahirah Wal-Nas channel, that one of the most important causes of inflation in Egypt is that we import from 50 to 70 percent of our needs and the consumer bears the cost of what happens abroad from A global economic crisis, and secondly, the existence of financial liquidity in Egypt without justice.
He continued: “The Egyptian pound has lost regarding 17% of its value and the decision to raise the interest rate is positive, but the biggest loser from raising the interest rate is the government and businessmen,” stressing the need to stop importing some simple products from abroad.