انتخابات رئاسية مصرية.. وأزمات اقتصادية على الطاولة
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00:00 Perhaps one of the most important things that the Egyptian government can do in early December
00:05 is to be very careful in monitoring the presidential elections, which give the Egyptians a chance
00:12 abroad, by voting, of course, within a few days, starting from the 1st and ending on
00:18 Sunday, December 3rd.
00:19 Then, after that, the chances of Egyptians entering the country will begin.
00:23 The circumstances of the presidential elections in Egypt, with many challenges to the economy.
00:30 Let me first just remind you of these elections, who are the candidates or the main candidates
00:37 in them.
00:38 We are talking, of course, about the current president, Abdel Fattah Al-Sisi.
00:41 We are talking about the president of the Wafid party, Abdel Sanad Yamama.
00:45 The president of the Republican People's Party, Hazem Omar.
00:48 And we have the president of the Democratic Party, Fareed Zahran.
00:51 The presidential elections in Egypt have begun on December 1st and ended on December 3rd.
00:59 We were, of course, talking about the 14 million Egyptian vote.
01:03 But what about the limits of these elections in Egypt?
01:06 They will begin on December 10th, and we are talking about what is enough for the 60 million
01:14 candidates to go inside Egypt to make their voices heard.
01:19 In these circumstances that Egypt is going through, how can the Egyptian government deal
01:26 with the latest developments and challenges?
01:30 The elections come amidst challenging economic crises in Egypt.
01:35 First, we are talking about the slowdown in inflation for the first time in six months.
01:40 The level is 35.8% in October.
01:44 The target in the fourth quarter of 2024, with the new presidential term, is between 5% and 9%.
01:51 These are magical targets in exchange for what Egypt is going through today, especially
01:57 the numbers of inflation.
01:59 Another challenge is the fluctuation of dollar prices in the equilateral market.
02:03 Since March 2022, we are talking about the loss of more than 50% of the Egyptian pound,
02:10 the value of which is $1. The banks were giving us a price of 30.9 pounds per dollar.
02:16 In the equilateral market, the price is about 45 pounds per dollar, of course, at the moment.
02:23 There was a very strong interest in the past to free up the exchange rate of pounds, or
02:28 not even to name the word "flexibility", but to give us more control over the exchange rate.
02:34 What does Egypt rely on today in its finances?
02:37 We have some commitments.
02:40 The foreign debt is paid in the next five years, that is, the period between 2024 and
02:46 2028, the next presidential term, with a limit of more than $90 billion.
02:51 The interest of the debts alone from the period of only a year, that is, the financial period
02:56 of 2023-2024, reaches 1.1 trillion Egyptian pounds.
03:01 The interest of the Egyptians abroad has declined by more than 26 percent, and it is the largest
03:07 source of foreign currency in Egypt.
03:10 It currently reaches $17.5 billion for the period from July 2022 to March 2023.
03:17 Of course, the financial situation of Egypt is still trying and is trying with the International
03:22 Funding Organization to take Egypt's need from funding, from more than one source, and
03:27 it seems that Egypt is moving forward in the economic reform program, as the cost of
03:32 the CDS has reached, or has been reduced to a limit of 33 percent until the third session
03:38 in December, and this is a privilege that we can perhaps accept that the Egyptian Ministry
03:44 of Finance is perhaps looking to improve.