And raise the central bank Interest rate The main index increased by 100 points to 9.75 percent.
The Central Bank’s decisions came to face inflationary pressures caused by the Corona virus pandemic and Russia’s war in Ukraine, which led to a rise in oil prices to record levels.
Economists say that the Egyptian measures are likely signs that the government wants to secure another financing package from… International Monetary Fund.
As the Prime Minister said, Mostafa MadboulyOn Tuesday, the government is working to re-establish the 2022-2023 budget to prepare it for the most pessimistic scenarios.
The government took steps to control price hikes, including monitoring a relief package worth 130 billion pounds.
It also said that it would increase the pensions and salaries of civil servants starting next April instead of July, and it also set a new pricing system. for bread Unsubsidized, following bakeries raised prices to 50 percent.
Retailers who violate the government’s pricing system will face a fine of up to five million Egyptian pounds ($286,200).
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Banks are selling dollar For more than 18.5 pounds, while you buy it for more than 18.45 pounds, which represents an increase from the average of 15.6 pounds per dollar before the decision central bank last Monday.
And raise the central bank Interest rate The main index increased by 100 points to 9.75 percent.
The Central Bank’s decisions came to face inflationary pressures caused by the Corona virus pandemic and Russia’s war in Ukraine, which led to a rise in oil prices to record levels.
Economists say that the Egyptian measures are likely signs that the government wants to secure another financing package from… International Monetary Fund.
As the Prime Minister said, Mostafa MadboulyOn Tuesday, the government is working to re-establish the 2022-2023 budget to prepare it for the most pessimistic scenarios.
The government took steps to control price hikes, including monitoring a relief package worth 130 billion pounds.
It also said that it would increase the pensions and salaries of civil servants starting next April instead of July, and it also set a new pricing system. for bread Unsubsidized, following bakeries raised prices to 50 percent.
Retailers who violate the government’s pricing system will face a fine of up to five million Egyptian pounds ($286,200).
