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Federation: Interest rate cuts aid Egyptian industry
The article focused on the importance and challenges of financing in the Egyptian industry, especially amid rising interest rates and their negative impact on the ability of industries to survive and expand. Experts explained that initiatives to reduce interest rates to levels of 5% and 8% after the 2016 currency float played a significant role in saving the industrial sector, as current interest rates exceeding 22% make operations and sustainability difficult. They also emphasized that the industry needs long-term financing lasting from 10 to 20 years with low interest rates, noting that most current loans in Egypt do not exceed 5 to 7 years, which hampers the development of industrial projects and affects their ability to achieve sustainable profits.
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