praises flotation valueadded
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Head Ali Eissa

Praises flotation, value-added

Egypt Today, egypt today

Egypt Today, egypt today Praises flotation, value-added

Chairman of the Egyptian Businessmen Association Ali Eissa
Cairo - Hana Mohamed

Chairman of the Egyptian Businessmen Association Ali Eissa praised the flotation of the pound and the VAT law as well as the increase in fuel prices, considering these decisions as the first economic reform steps. He added that the government should provide social guarantees for low income people and apply effective banking measures to tackle the inflation.

Eissa added that the flotation affected some companies in the Egyptian market, especially those which have opened letters of credit or borrowed in foreign currency before the decision. He continued that a large number of companies have huge debts in dollar for banks and some of them closed or announced bankruptcy.

Eissa said that the last period has witnessed extensive discussions between investors' associations and the Cabinet and the Central Bank of Egypt to solve the currency difference crisis. After the meetings, the banks agreed to schedule the debts of companies over three years and abolish any legal action against the companies.

Eissa pointed out that the solution of the current economic crisis requires that the government exerts more efforts to increase the dollar resources, speed the issuance of the new investment law and encourage Egyptian companies to increase domestic production and reduce imports.

Eissa expected that the dollar exchange rate will be stable in the coming period, especially after Egypt has received the first installment of the IMF loan.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

praises flotation valueadded praises flotation valueadded



 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday