El-Gallad asks Sabahi about dollar crisis
Hamdeen Sabbahi discussed the exchange rate crisis in Egypt during his interview with Magdy El-Gallad. He emphasized that the solution should not focus solely on financial decisions or currency floatation but also on strengthening domestic production in the industrial and agricultural sectors. He clarified that the value of the Egyptian pound is linked to the volume of production, especially Egypt's ability to export and reduce imports. Addressing the crisis, he said, requires examining the roots of the economic problem and achieving balanced development. He also pointed out that policies of the International Monetary Fund, such as reducing subsidies and liberalizing the exchange rate, play a role in the crisis. Furthermore, he stressed that the evaluation of previous policies should be based on their outcomes and their impact on the economy.
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