According to Reuters, the central bank said Tuesday it would allocate
The initiative, Ashmawy said, will have positive effects on the economy by decreasing inflation rates, moving the market and generating liquidity. The scheme is expected to increase revenues by
Ashmawy said the initiative would also contribute to easing the problem of unemployment and create an incentive for developers to speed the completion of their work.
Ashmawy said the most important goal of the initiative would be to support low- and middle- income citizens and ease the pressure on slums that surround most governorates.
The cabinet, meanwhile, is considering legal amendments to facilitate mortgages, especially in new cities.
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