07:50 PM Tuesday 30 January 2024
Dalia Al-Dhanini wrote:
Yousry Al-Sharqawi, an investment expert, revealed the details of the proposals regarding raising the price of the dollar in the banking sector, indicating that the Egyptian economy has a special nature and is divided into official and informal.
He added, during a telephone conversation with journalist Azza Mustafa on the Tahrir Hall program broadcast on Sada El Balad channel, today, Tuesday, that if the price of the dollar is officially raised so that it is equal to the black market, the people’s need for bank credits must be met.
He explained: There is no problem in liberalizing the exchange rate, but on the condition that dollar credits are provided to companies and factories, because if they are not available, there will be a big problem, as happened in some countries.
He stressed that “floating is a dangerous measure if the necessary measures are not taken to complete the matter in an orderly manner,” noting that raising the interest rate to prevent dollarization without other mechanisms will be followed by some problems, stressing that people’s existing liquidity can be controlled through several measures, including Raising interest.
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