5 Days
Source:
المصري اليوم
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Source: المصري اليوم
5 Daysالمصري اليوم
Source: المصري اليوم
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Lamis El-Hadidy said that every 1% increase in interest rates raises the government’s debt costs by about EGP 145 billion a year, while interest payments on the debt are nearing 90% of state revenues in the first two months of the fiscal year. She explained that higher interest rates increase borrowing costs for the government, businesses, and new borrowers, while boosting returns for some savers: the yield on the variable-rate certificates in question rose from around 19.5% to 20.5%. She called for better coordination between monetary and fiscal policy, stronger foreign-currency resources, and an improved investment climate. She warned that gains in tourism, remittances, and exports would not, on their own, be enough to protect the economy from shocks.
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