24 Hrs
Source:
المصري اليوم
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Al-Hadidi warns of economic pressures as hot money leaves and dollar hits 52
The article addresses the rise in global oil prices and their repercussions on the Egyptian economy. Currently, the price per barrel ranges between $100 and $104, compared to budget estimates set at $75, creating pressure on the budget due to the gap between these figures. Additionally, increases in the prices of imported goods, shipping, and insurance costs negatively impact price movements in Egypt. Global developments, such as rising interest rates in the United States and regional tensions, influence foreign investment flows and exchange rates, with the US dollar reaching around 52 pounds amid anticipation of the Central Bank of Egypt's decision regarding interest rates.
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