الاتحاد الأوروبي يتعهد باستثمار 10 مليارات دولار في مصر
Category
🗞
NewsTranscript
00:00 Regional conflicts and geopolitical crises come one after another to test the Egyptian economy.
00:07 The coronavirus crisis, and its similar implications for the Russian-Ukrainian crisis,
00:11 and the recent war on Gaza, all of which have put pressure on the Egyptian economy
00:16 and have led to the crisis of foreign monetary inflation.
00:19 Despite these pressures, there is a possibility of a break soon,
00:23 with the announcement of a number of financing institutions to provide more support to Egypt.
00:28 The European Union is committed to 10 billion dollars in investments in the country,
00:32 and the International Monetary Fund is estimating an increase in loans to more than 5 billion dollars.
00:38 The international partners have finally noticed the current situation in Egypt,
00:44 and the IMF has begun to have a great deal of flexibility in this regard.
00:48 According to our information, the IMF has announced that it will raise the loan from 3 to 10 or 12 billion dollars.
00:56 In addition to the large sector that the state is waiting to sell to government companies,
01:04 I think this could be done after the IMF agreement, especially if the price of the pound is moved in the coming period.
01:13 The additional bonds come side by side with the Egyptian government's attempts to attract more dollar revenue
01:20 by launching various initiatives for foreign workers and seeking to increase dollar sources
01:26 by issuing bonds and selling some assets, and by strengthening direct foreign investments,
01:31 and the sources of tourism and export.
01:33 In the midst of fears of taking measures that may contribute to imposing additional burdens on citizens.
01:39 Any measures that would affect the social security of the citizens of Egypt,
01:45 such as reducing the cost of fuel or fuel prices, will not be implemented.
01:54 But I think there is a very strong challenge, which is to control the inflation rate,
01:59 not only in Egypt but around the world.
02:01 All of this will be one of the most important goals that the IMF will focus on with the Egyptian government in the coming period.
02:06 The foreign debt of Egypt is exceeding $164 billion,
02:10 while the budgetary budget of Egypt is exceeding $15 billion to $20 billion.
02:17 Egypt is therefore expecting more financial support in the face of regional tensions,
02:22 which have made the international institutions more aware of the dire economic difficulties
02:27 that the country is facing due to the current geopolitical tensions.
02:31 Farouk Youssef, CNBC Arabia, Cairo.
02:34 [BLANK_AUDIO]