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Interest rates should be revised soon: Expert

Saturday 19/August/2017 - 07:09 PM
Sada El Balad
Ahmed Moamar
Khalid Al Shafea، an economic expert slammed a decision made by the Monetary Committee at the Central Bank of Egypt (CBE).
The committee ruled to stabilize the interest rates at 18.75% and 19.75% in a row، on lending and depositing in banking institutions working in Egypt.
Al Shafea added that those rates should be revised urgently lest they crush investment in Egypt. He made clear today، Saturday that the central bank seeks to fight the last wave of inflation through high rates as inflation exceeds 35% during the past month.
It is worth to mention that inflation is attributed to free the rate of exchange of the national currency against the foreign ones especially the US dollar.

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