Sunday 31 Aug/2025 – 11:09 PM
Dr. Fakhry Al -Fiqi, a former International Monetary Fund, and Chairman of the Parliamentary Plan and Budget Committee, said that the central bank’s decision to reduce interest rates from 28.25% to 23.25% is an important step, expecting these cuts to continue to reach between 12% and 14% by the end of the fiscal year, as long as inflation rates are in continuous decline.
The dollar will reach 35 pounds
Al -Fiqi added that reducing interest will positively affect the economy by encouraging the private sector to expand and increase investments, which creates new job opportunities and stimulates the markets of perennial goods such as real estate and cars, noting that the low cost of borrowing on the government will contribute to reducing the budget deficit, as well as reviving the stock exchange after the decline in the attractiveness of savings certificates.
With regard to the dollar exchange rate, Al -Fiqi explained that its value fell against the pound from 51 to 48.5 pounds due to the flexibility of the exchange rate, noting that the Egyptian pound is listed with less than its true value.
He concluded his remarks by saying that the dollar “deserves 35 pounds, not 50.”
