Economist expects National Bank of Egypt, Banque Misr to collect EGP1 trillion within 3 weeks

Dr. Fakhry al-Fiqi, head of the House of Representatives (Parliament) Plan and Budget Committee, said that the decisions taken by the Central Bank of Egypt aim to declare war on two things: breaking the severity of inflation and the high prices that exhaust Egyptians.

He added, during a phone call to the “Salat El Hall” program, presented by Azza Mustafa on the “Sada Al-Balad” satellite channel, that the general inflation rate reached 19.2%, noting that the general inflation rate at the present time is considered high.

He pointed out that the new certificates offered by Banque Misr and Al-Ahly Bank, at a rate of 25%, contribute to collecting funds from citizens and institutions, and pumping them into the Central Bank to break inflation.

He expected the two banks to collect one trillion pounds, within 3 weeks.