2024-08-05 17:10:00
08:10 PM
Monday, August 5, 2024
Dalia Al-Danini wrote:
Economic expert Dr. Walid Gabbara said that the Egyptian economy currently faces many challenges and Egypt has experienced many crises since the implementation of the economic reform plan.
“Jabala” explained in a meeting with media figure Faten Abdel Mahboud during the “Tahrir Hall” program broadcast on the Sada El Balad channel that the coronavirus crisis, terrorism and regional and international challenges have a huge impact on Egypt There has been a negative impact on the economy, but despite this, the national economy appears to be resilient.
He pointed out that the state has the elements for success in the economic field and has the economic documents needed to control the market.
Regarding the rise in the price of the U.S. dollar, he explained that such increases are expected since exchange rate liberalization, especially in the event of any global or economic crisis, stressing that the fall in the price of the U.S. dollar will depend on the stability of the global economy. and the world.
Gabala added that Egypt’s foreign exchange reserves amount to $46 billion and there is no need to worry about investors leaving due to regional influence, especially considering the threat from Iran to Israel.
He stressed that there was no need to panic about the dollar’s rise, noting that speculation in the currency was carried out by major economic entities rather than ordinary people.
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