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Oil expert: The Central Bank’s decisions are a roadmap for a sustainable free economy that supports development plans


Engineer Ahmed Sultan, Vice Chairman of the Energy Committee of the Cairo Engineers Syndicate, who specializes in oil and energy affairs, said that the decisions of the Central Bank of Egypt are a roadmap for a free and sustainable economy that supports development plans, explaining that any decision in general that is taken has many positives as well at a time when the world is suffering. In all fields, because, in general, the Russian-Ukrainian war reshaped the entire global scene, and more than 8 months after the beginning of that crisis and the subsequent economic sanctions and the repercussions of that crisis, which became clear that it would not be confined to the European continent only, but spread to all countries of the world. He is facing many challenges, shocks and severe economic repercussions, the like of which he has not seen for years, which is reflected in increased pressure on the Egyptian economy.

The Vice-Chairman of the Energy Committee of the Cairo Engineers Syndicate, who specializes in oil and energy affairs, continued, “Therefore, the decisions of the Central Bank today work to strengthen the steps of the Egyptian state in limiting the rise in inflation rates, in addition to maintaining the stability of the exchange rate and also encouraging investors to invest without fears of any fluctuations.” In the exchange rate, and what is happening now in the rise in the price of the dollar is only a state of fluctuation in response to the decisions of the Central Bank and the state of fear, which certainly results in speculation and a large movement of buying and selling for the dollar. President Sisi promised to cancel the work of documentary credits and work to provide goods for the productive and industrial sector, in addition to consumer goods for citizens.

It was decided to raise the minimum wage, in addition to the stability of electricity prices, and recently we saw the stability of fuel prices. Here, those decisions that take into account the social aspect and a new package that are in the interest of the Egyptian citizen, and whose axes were discussed at the economic conference, were discussed, and therefore the decisions of the Central Bank of Egypt today are a roadmap for a free and sustainable economy. Supports Egyptian development plans.

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