Saudi Press

Saudi Arabia and the world
Thursday, Feb 02, 2023

Sisi Stresses Availability of US Dollar in Egypt

Sisi Stresses Availability of US Dollar in Egypt

Egyptian President Abdel Fattah al-Sisi stressed that foreign currency is available to release imported goods in ports, assuring that the government has dollars.
During the inauguration of two medical and industrial gas plants and a tri-generation plant in the chemical industries complex in Abu Rawash, Giza, Sisi said state was keen on boosting the national production of strategic products and imported commodities to reduce pressure on the US dollar.

He called on the government to announce the volume of goods released from the ports, adding that Egyptian banks would cover the funds to secure the release of some goods.

Sisi called for solidarity to confront price hikes and alleviate the suffering of citizens, vowing that facts would be reported to the citizens.

The government would ensure a stable agricultural input, declared Sisi, noting that efforts had been exerted to ensure a steady supply of fertilizers in the local market at affordable prices.

He warned that high international gas prices used in the fertilizer industry would increase the current rates, wondering who would handle the high cost.

Sisi addressed citizens, saying: “Don’t ever think that we, as officials and human beings, are not aware that prices are a burden on people. But, by God, we can do nothing more than what we already are doing.”

He noted that the government had refrained from raising electricity tariffs in factories to avoid causing a spike in the prices of goods in the market.

He asserted that all parties need to unite to confront the price hike.

Turning to the controversy regarding a draft law establishing the Suez Canal Authority (SCA), Sisi, in his first remarks on the issues, stressed the need for having savings at the various ministries and agencies, describing the Authority as “the dream.”

Since 1975, the canal has generated revenues worth $220 billion, he added, noting that if ten percent of that revenues were deducted and put in a fund, it could have been used to finance the Authority and develop the canal.

The Suez Canal Authority has become a necessity, said Sisi, stressing that all the funds would only be spent with his permission.

Related Articles

Saudi Press
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Saudi FM discusses Kingdom’s economy, oil, Iran and US ties in Davos
Israelis rally in three cities against Netanyahu legal reforms
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Saudi Arabia plans to use domestic uranium for nuclear fuel
Mohammed Bin Salman chosen most influential Arab leader of 2022
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
United Arab Emirates says it will teach Holocaust in schools
Saudi Arabia set to overtake India as fastest-growing major economy this year 
International medical experts speak out against COVID-19 restrictions on China
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Saudi Arabia’s female ambassadors: Who are the five women representing the Kingdom?
Almubarak named ‘The Best Central Bank Governor of the Year 2023 for the Middle East’
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges