(Report part of a file prepared by the
Such an outlook comes amid plans for new mega projects aimed at shoring up the ailing economy, namely the new
The Chairman and Managing Director of
According to a fresh
As remedies, the
With respect of combating corruption, Prime Minister
The government had also vowed to stem necessities' prices by tightening markets' control. Also in this respect, official figures put inflation rate at 3.3 percent in June. The rise was attributed to the government decision to increase prices of electricity and fuel.
At the monetary level, the powerful currency, the US dollar, has posted no drastic leaps vis a vis the national currency, remaining at 7.15 pounds per
However, he said that the USD deposits dropped 22-30 percent, signaling wide-spread shifting to the national currency.
The Egyptian bourse gained, in August, 22.8 billion pounds, bringing overall market capital to 523.88 billion, compared to 501.05 billion in July.
Being whipped by serious domestic political crises, the Egyptian economy had witnessed setbacks since 2011, where unemployed swelled by 13.3 percent. (end) rk
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