Egyptian writer Bahjat Al-Obeidi, founder of the International Federation of Egyptian Citizens Abroad, said that President Abdel Fattah al-Sisi has worked to control the Egyptian economy through a set of laws that lead to a stable economic environment and encourage foreign, Arab and local investment.
He added that one of the most important and bravest decisions taken by President El Sisi is the decision to liberate the exchange rate - known as floating the pound - a decision that had the greatest impact on the Egyptian economy.
Al-Obeidi added that this decision greatly increased the remittances of Egyptians abroad from foreign currency; they were exchanged in their real values, leading to a significant increase in remittances of Egyptians abroad, making the Egyptian economy more healthy.
He predicted that the remittances of Egyptians abroad will continue to increase in the coming periods, stressing the contribution of Egyptians abroad is the main share in the foreign currency cash reserves.
Earlier, Egypt's Central Bank said that, last November, foreign currency reserves reached $ 45.354 billion, up from $ 45.246 billion in October.
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