“The pound is the second greatest foreign money on this planet.” What’s the reality concerning the Egyptian Minister of Finance’s controversial statements?

Egypt – In latest hours, social media customers circulated a press release revealed by Al-Shorouk, by Mohamed Maait, the Egyptian Minister of Finance, during which he stated that “the pound is the second greatest foreign money on this planet.”

Upon analysis, it turned clear that the Egyptian minister’s statements have been taken out of context, as he didn’t say in textual content that the Egyptian pound is the second greatest foreign money on this planet, however relatively he stated that the Egyptian pound is the second greatest foreign money on this planet. When it comes to enchancment within the worth of the foreign money throughout 2020.

In response to the Egyptian newspaper Al-Shorouk, it confirmed that the assertion is legitimate, nevertheless it dates once more to January 2021, in the course of the “Details and Secrets and techniques” program with the journalist Mustafa Bakri, when Dr. Mohamed Maait, Minister of Finance, stated that the Egyptian pound is the second greatest foreign money on this planet, by way of enchancment in the course of the yr 2020. .

He beforehand made the identical assertion in December 2019 in the course of the annual Arab Banking Convention, and the statements have been additionally revealed on the web site of the State Info Service and the Center East Information Company.

Maait stated on the time in a speech he delivered in the course of the annual Arab Banking Convention: “Coordination between fiscal coverage and financial coverage was probably the most vital elements for the success of the Egyptian financial reform program.”

He added: “This was demonstrated in attaining the second greatest major surplus on this planet and the second greatest performing foreign money on this planet in 2019, which supplies a robust indication of the success of the financial reform program.”

In one other context, the Egyptian Minister of Finance confirmed in his statements yesterday, Thursday, {that a} loaf of bread has been backed for many years, noting that the price has modified considerably, as a loaf of bread prices the state 125 piasters.

Muhammad Maait stated that the rise in loaves of bread was slight, stressing that this improve took under consideration societal circumstances.

The Minister of Finance continued that the imbalance within the trade charge was because of the change within the trade charge, stressing that controlling costs and offering items is the one method to management inflation.

Dr. Mohamed Maait, Minister of Finance, confirmed that each one international locations of the world have moved from in-kind help to money help, indicating that he believes that money help will profit individuals greater than in-kind help.

Supply: RT + Al Shorouk

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2024-05-31 22:10:58