The Egyptian Prime Minister, Dr. Mostafa Madbouly, stressed that "the government's main concern in the economic file is to reach a unified rate for the dollar in the short term, and this is being worked on strongly." He stressed that "the government is keen to motivate serious investors through real incentives, overcoming obstacles and facilitating procedures, and there are directives to give priority to the local product in government contracts."
There are two prices for the dollar in Egypt, where it trades in the official market near levels of 30 pounds to the dollar, compared to levels of 50 pounds in the parallel market. Egypt has devalued the pound three times since March 2022, losing more than 50% of its value against the dollar, and imposed restrictions on imports.
Source (Al-Arabiya.net Website, Edited)
