الأحد، 24 أبريل 2016
Egypt's dollar crisis continue despite the Gulf Deposits
Egyptian economist Izz al-Din Hassanein expert said that rely on grants and deposits in the Gulf is only a temporary dwelling effects go away quickly.
The news agency Anatolia Hassanein say that as long as the state resources Dollar Off or weak, the Gulf aid merely a tactical maneuver only to gain more time until improved economic activities.
He pointed out that the balance of the reserve after helping Emirates and possibly Saudi Arabia to support the central and anticipated loans from other parties, represents a significant burden on the state and obligations need for sustainable revenues for the dollar to cover the time required or the due date.
He ordered the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan At the conclusion of his visit to Egypt this weekend Almadi- pledged $ four billion dollars in support of Egypt, the directives of UAE President Sheikh Khalifa bin Zayed Al Nahyan.
Hassanein said that the UAE support for Egypt four billion dollars, of which two billion dollars to support the foreign exchange reserves and two billion dollars to invest, from "would help in raising a relatively foreign exchange reserves, but not enough to solve the crisis of the dollar."
Hassanein said that "Egypt needs to fifty billion dollars credited foreign cash reserves, in order to provide the basic needs," noting that it must be the reserve development ongoing basis, be from sustainable resources to the dollar, such as tourism and export revenues of the Suez Canal and remittances from workers and attract foreign direct investment and indirect.
The net foreign reserves to Egypt about $ 16.5 billion by the end of March / March last.
Traders say the dollar has risen in parallel market for around 11 pounds, compared to 8.78 pounds in the Central Bank.
Egypt's dollar crisis continue despite the Gulf Deposits
Egyptian economist Izz al-Din Hassanein expert said that rely on grants and deposits in the Gulf is only a temporary dwelling effects go away quickly.
The news agency Anatolia Hassanein say that as long as the state resources Dollar Off or weak, the Gulf aid merely a tactical maneuver only to gain more time until improved economic activities.
He pointed out that the balance of the reserve after helping Emirates and possibly Saudi Arabia to support the central and anticipated loans from other parties, represents a significant burden on the state and obligations need for sustainable revenues for the dollar to cover the time required or the due date.
He ordered the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan At the conclusion of his visit to Egypt this weekend Almadi- pledged $ four billion dollars in support of Egypt, the directives of UAE President Sheikh Khalifa bin Zayed Al Nahyan.
Hassanein said that the UAE support for Egypt four billion dollars, of which two billion dollars to support the foreign exchange reserves and two billion dollars to invest, from "would help in raising a relatively foreign exchange reserves, but not enough to solve the crisis of the dollar."
Hassanein said that "Egypt needs to fifty billion dollars credited foreign cash reserves, in order to provide the basic needs," noting that it must be the reserve development ongoing basis, be from sustainable resources to the dollar, such as tourism and export revenues of the Suez Canal and remittances from workers and attract foreign direct investment and indirect.
The net foreign reserves to Egypt about $ 16.5 billion by the end of March / March last.
Traders say the dollar has risen in parallel market for around 11 pounds, compared to 8.78 pounds in the Central Bank.
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