خطة حكومية مصرية من 8 محاور لمضاعفة النقد الأجنبي
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00:00 Egypt is aiming to double foreign currency exports from eight sources,
00:05 including the increase of exports and tourism bonds by about 20% annually,
00:10 and the increase of foreign investments and the importation of Suez Canal and
00:16 the services of the United Nations by 10%.
00:19 This, in addition to the direction of the increase in the percentage of dollar bonds,
00:24 reaches 30%.
00:26 A plan that aims to reduce inflation and debt rates and achieve an economic growth
00:32 ranging between 6% and 8%, with the provision of 8 million job opportunities by 2030.
00:39 The challenge facing the state is that the economic growth rate will not be a strong
00:44 agenda during the coming period.
00:47 Therefore, today, as a state, I am required to find radical and urgent solutions to the
00:51 problem of increasing population.
00:53 Also, the services of the covenant, the direct foreign investment, all these things,
00:58 I think today, as you said, in the shadow of geopolitical challenges and the state of
01:02 instability, which the whole world witnesses economically and politically,
01:06 have strong impacts.
01:07 This may make you a state that is required to have a competitive environment in all
01:12 sectors that contribute to the dollar component of the Egyptian economy.
01:16 The new strategy comes at a time when geopolitical tensions are escalating and
01:21 one of the most important dollar sources, the end of the Egyptian transfers abroad,
01:26 which have declined by about 30%.
01:29 What made the Egyptian government also announce its intention to establish a
01:33 foreign workers' fund, with a capital of a billion dollars, to invest in the
01:37 state's own assets, in addition to a separate company to invest their savings in
01:42 a number of production and service sectors.
01:45 The reduction of the transfers of Egyptians abroad results from the difference between
01:49 the dollar price in banks and the dollar price in the black market, in addition to
01:53 the dollar transactions.
01:54 And it is natural that the idea is a win-win situation.
01:57 It is natural that I am a worker, I work abroad, so I would like to transfer my money
02:00 to Egypt.
02:01 The natural thing is that I will ask for it at the highest price.
02:03 So he is trying to be able to benefit from this difference.
02:07 While the government document confirmed the sudden drop in the exchange rate in
02:11 the official and parallel markets, it revealed the expectations of the International
02:15 Economic Cooperation to reduce the average dollar exchange rate to 36.80 pounds
02:19 during the period between 2024 and 2028.
02:23 A plan that comes with the launch of a new presidential term, in which Egypt
02:27 aims to deal with the crisis of foreign currency scarcity, reduce inflation rates,
02:31 stabilize the exchange rate, and increase the returns of dollar sources.
02:35 Will the international economic conditions be opposing or opposite?
02:39 Farouk Youssef, CNBC Arabia, Cairo.