12 Hrs
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بوابة الشروق
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Amr Adib: Egypt market price manipulation
The article features remarks by media personality Amr Adeeb regarding the conditions of the market in Egypt. He confirmed that Egypt is experiencing an unjustified rise in prices rather than a decline, and that the market is hesitating to adjust prices up or down due to indecisive government policies. Adeeb pointed out that the global oil prices are fueling expectations of increased local fuel prices, and that industrial sectors are eager to raise their prices because of rising production costs. However, he questioned how able the citizens are to keep pace with these increases. He also emphasized that the exchange rate stability achieved by the Central Bank governor has helped prevent a significant rise in the dollar’s price. The article highlights that the market lacks government control in managing price fluctuations, and that the ongoing rise without any downturn reflects a failure in market and cost management.
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