2023-06-14 14:20:00
Written by Ahmed Arafa
Wednesday, June 14, 2023 05:20 PM
President Abdel Fattah El-Sisi said: “I was close to zero subsidies in petroleum derivatives, but what happened is that I came back once more when the exchange rate increased in this way. When you approach the exchange rate, be careful so that it does not lead you into a crisis beyond your imagination.”
President El-Sisi added during his speech at the National Youth Conference in Alexandria: “Many of the services you provide and the products you provide are priced in pounds over the value of the dollar, and I bring yellow corn from abroad. Should I price it at 8 pounds per dollar, 16 pounds per dollar, or 30 pounds per dollar, even if it is priced?” At 30 or 40, what would the price be?
And President Sisi continued: “We are flexible in the exchange rate, but when the matter is exposed to national security and the people of Egypt are harmed in it, then we do not. When the exchange rate affects the lives of Egyptians, we do not sit in our place.”
President El-Sisi said: “A kilo of meat costs 300 pounds because of the exchange rate. If you want to drop the exchange rate at 50 or 60, the citizen will suffer. If the solution is that the launch will provide the required number, how many, do you need between 85 or 90 billion dollars to provide orders for Egypt?”
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