Ahmed Heider

	FoodAfrica
	EGYPES

Egypt Adopts Mechanism to Stabilize Exchange Rate by No More than 3 - 4% Change

The government is making intensive efforts to facilitate the entry of investors into the Egyptian market.

The dollar's value fluctuated between 4 to 5 percent ($1/EGP 47 to $1/EGP 49) after the country adopted a flexible exchange rate in March.

President Abdel-Fattah El-Sisi has issued a decree appointing the Central Bank of Egypt (CBE) board of directors, chaired by Hassan Abdullah.

This marks the highest growth in tax revenues in the past two decades, adding an impressive LE 155.2 billion to the national coffers.

Spending on wages and employee compensation saw a notable increase of 22.4 percent, amounting to LE 197.1 billion over four months.

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