“There is no third flotation.” An economist: Prices will drop within a month

Books – Muhammad Abu Al-Majd:

Dr. Mostafa Badra, an economist, revealed the details of Egypt’s obtaining a $3 billion loan from the International Monetary Fund, saying: “Egypt had no alternatives to this matter, and there is no third flotation of the pound again in the coming period,” noting that Egypt had no alternative but to go to the International Monetary Fund. In light of global challenges and high interest rates; This encouraged the return of investments again. By granting Egypt a financial package that helped improve the lives of citizens and complete the development path.

Badra added, in his interview with the “On My Responsibility” program on “Sada Al-Balad” channel today, Sunday, that it is clear that the Russian-Ukrainian crisis will continue for a while, and the financial crisis and the rise in the price of the dollar will affect all countries, explaining that the rise in freight and freight prices will cause Commodity price hike.

And he added that the IMF postponed its approval of granting Tunisia a loan. Because there are legislative elections, currently, and the absence of a state of stability; This is from the Fund’s point of view, stressing that if Egypt does not turn to the IMF, prices will rise exponentially, which the state’s capabilities cannot bear.

He explained that prices may decrease within a month, under the directives of President Abdel Fattah El-Sisi, who promised to resolve the crisis within two months. By releasing the goods in the ports, stressing that there are those who spread rumors about the Egyptian economy in order to influence it, and the Monetary Fund stressed that there is no third flotation of the Egyptian pound.

Badra stressed that the whole world has entered a stage of inflationary stagnation, and if the Russian-Ukrainian war does not stop, the next will be more difficult for the international community, adding: “Liquid money in the hands of citizens is very important and must be preserved in order to overcome the current stage, and whoever has a penny maintain it.”

And he stressed the need to encourage tourism and industry to increase the state’s resources, and work to overcome the obstacles facing investors, suggesting that banks be opened for citizens to deposit their money, whether in pounds or dollars, regardless of its source, without asking: Where did you get this from, indicating that this helps to save dollar currency.

The economist concluded, by pointing out that it is possible for the dollar to decrease because it is like any commodity, and this happens in the event of an increase in state resources through investment, pointing out that gold and investment certificates are a safe haven, while real estate is a slow investment in disposition.