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Parliamentary Budget Committee: Egypt will receive large revenues from gas exports to Europe

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The head of the planning and budget committee in the Egyptian parliament, Fahri al-Fiki, said Egypt will export $1 billion a month worth of liquefied natural gas to Europe and that the exchange rate will be flexible in the coming period. .

Al-Fiqi added during a conversation with the Sada al-Balad channel that Egypt will receive from 15 to 18 billion dollars within 6 months from gas, foreign investment and the Suez Canal.

He added that the second tranche of the World Bank loan will be disbursed in the second half of March, and Egypt will receive $350 million after review by the International Monetary Fund in about two weeks.

Al-Fiki explained that the Central Bank will not waste a dollar of cash reserves, and the reserve is $34.2 billion in the Central Bank and covers Egypt’s need for imports for a period of 4 to 5 months.

Al-Feki pointed out that there are 3 international mobile industry companies to start in Egypt, where there is a Korean mobile phone company in Egypt, and this company should cover 40 percent of Africa’s need for Korean mobile phones. and there is a trend on the part of international mobile companies for Egypt and Morocco to be hubs for Africa’s phone needs.

Source: “Cairo 24”

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