Egypt – Economic expert Walid Adel stated that the price of the dollar may be affected by several factors, the most important of which are the global economic situation, the American economy, Federal Reserve policies, and global geopolitical developments.
The expert pointed out that the entry of direct investments into the Ras El Hekma development project, estimated at $35 billion, will have a significant impact on the ability to cover Egypt’s financing gap during the next four years.
The banking expert added that the volume of financing for the Ras El Hekma development project led to the disappearance of the black market and restored pricing policies to all sectors.
He added that the project contributed to improving Egypt’s credit status, and changed the view of international rating agencies towards Egypt’s creditworthiness once once more to a positive view, which will have a positive impact on the return of investors and the increase in development investment projects.
He explained that the return of confidence once once more to the banking system, and the increase in remittances from Egyptians working abroad, contributed to increasing foreign exchange reserves, especially the dollar.
The economic expert expects, based on what was mentioned previously, that dollar prices will decline once more during the coming period, to a level between 40-42 pounds, with the value of the pound rising due to increased demand for it, stability of exchange rates, and improved economic conditions, with the expectation that resources will enter… In dollars and other foreign investments.
Source: Al Watan
#Egyptian #expert #dollar #falling.. #expected #reach #pounds #coming #period
2024-04-15 09:55:31
