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Sisi comments on US dollar crisis in Egypt

Egyptian President Abdel Fattah al-Sisi commented on the various economic issues facing his nation, such as the US dollar crisis and controversy regarding imported goods at ports.

During the inauguration of a project on Monday, Sis said: “These steps taken by the government to release some commodities are among the important steps that Egypt has taken to improve conditions.”

The president stated that the banks will cover the required dollars in favor of the credits within a period of three or four days.

Prime Minister Mostafa Madbouly meanwhile said the government was making efforts to provide hard currency and solve the crisis of production requirements.

Madbouly said that between four billion to $4.5 billion dollars worth of goods stuck at Egyptian ports will be released over the next four months.

“The ports had goods worth about $15 or $16 billion until the end of November, and we worked with the Central Bank and the banking sector, and we succeeded in releasing five billion dollars worth of goods from the beginning of the month until December 23,” he explained.

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