Egypt’s Economic Losses and the Soaring Dollar at 44 Pounds: Insights from Economist in conversation with RT

Egyptian economic analyst Hanan Ramses spoke in statements to RT about the crisis, which is causing Egypt to suffer heavy losses, due to some statements.

Ramses pointed out that “the chaos of statements is more harmful than helpful at a time when Egypt is suffering from a shortage of dollar revenues seeking to support the behavior of the pound against the dollar and is looking forward to deals that could be a lifeline.” , but they are quickly rejected, and this has a more negative impact than non-proliferation.

The Egyptian analyst explained that “trying to raise dollar gains by selling assets is the safest way to balance the exchange rate without floating, because floating is the dollar getting out of the forces of supply and demand, not to mention permanent demand for the highest prices. , whether in the official market or in the parallel market.” And no suggestions.

And she continued: “Despite the good impact of the placement on the indices of the stock market and its leading stocks, it causes stagnation and stagnation of the economy due to the high cost of investment and imports from abroad to complete production.”

She noted that one of the consequences of the default announcement was that the dollar continued to rise in futures contracts until it reached 44 Egyptian pounds, which is a hedging tool used by speculators to predict the state of the exchange. rate in the future.

Source: RT

Cairo – Nasser Hatem