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.
He explained that the Monetary Policy Committee at the Central Bank is scheduled to meet 4 times, during the coming period.
He pointed out his belief that inflation will gradually decline, as well as the cost of the citizen will decrease, by the end of the fiscal year 2022-2023.
It is noteworthy that the proceeds of savings certificates with a high return of 25% approached about 105 billion pounds in the banks of Ahly and Misr at the end of trading yesterday, Sunday, of which EGP 70 billion were recorded by the National (Al-Ahly) Bank alone.
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