A collapse in the price of the dollar against the pound, a decline in the price of gold, and expectations of a decline in oil prices globally. All economic indicators indicated this before it occurred, due to the trade war between America and China during the previous period, and the Corona virus crisis had a strong impact on the decline.- The dollar fell against the pound last week by about 7 piasters, recording a level of 15.65 pounds for purchase and 15.75 pounds for sale, compared to 15.72 pounds for purchase and 15.82 pounds for sale at the beginning of the week. Gold retreated from the peak of more than a week, on Friday, February 14, 2020.–
Technical analyzes and recent economic data also supported the expectations of international oil institutions, from the drop in the prices of a barrel of oil to less than $ 40 a barrel, in a break in prices of less than the global economic crisis during 2008, which threatens a great danger to the world economy.
It was necessary to know whether these reasons actually led to the decline of the dollar, gold, gasoline, etc. in Egypt, and whether the global economic crises would become good skin for the Egyptians, and will the coming period witness a further decline in products imported from abroad?– The answer came on the part of members of the House of Representatives Economic Affairs Committee during special statements made by the “Sadd Al-Balad” website, as follows:— Initially, Amr Al-Gohary, a member of the House’s Economic Affairs Committee, said that all global economic indicators confirmed the slowdown in global trade due to the crisis that was between China and America, and after the Corona virus crisis these indicators became real.- Al-Jawhari confirmed in exclusive statements to Echo Al-Balad that the US dollar’s decline against the pound during the past week was about 7 piasters, in addition to the decline in the price of gold in spot transactions 0.1 percent to 1575.35 dollars an ounce in addition to global expectations that the price of a barrel of oil will drop to 38 dollars Clear indication of this fact.– A member of Parliament’s Committee on Economic Affairs pointed out that most international organizations, including the World Bank, which expected oil decline during 2020, and others confirmed that the volume of exports from China have become very few, knowing that China is one of the largest oil importers and after the Corona crisis.–
Retreat Prices Oil, sugar, gas, diesel, electricity, gasoline, gold:
And on the decline in oil, sugar, gas and electricity prices, Amr Al-Gohary stressed that slowing the rates of commercial growth in addition to the Corona virus crisis in China will have a positive impact on Egypt. .
Damages the crisis Ali Egypt:
Amr El-Gohary, a member of the Parliamentary Economic Affairs Committee, said that the Corona virus crisis and slowing trade growth rates will also harm the Egyptian economy in terms of the non-arrival of tourists from China, in addition to the impact of investment and the low volume of traffic coming from the Suez Canal.–
The MP demanded that all closed factories should be operated aggressively to reduce import from abroad, taking into account the advent of the blessed month of Ramadan and the dependence of citizens on imported goods.
–
