Egypt’s Prime Minister Says Govt Not To Float Currency

Egypt’s Prime Minister Hisham Kandil said the government is not planning to float the Egyptian pound amid the remarkable hike of the U.S. dollar.

“The Central Bank is responsible for the country’s monetary policy not the government.” Kandil noted

“There are other methods for boosting the liquidity in the market to avoid the high inflation prices.”

The prime minister has also pointed out that all the parties alongside the press, civil society and economic figures will take part in the national initiative for the economic upturn, which was announced by the government.

“Every single recommendation or suggestion on achieving economic upturn shall be taken in consideration by the government.”

Furthermore, Kandil said there is need to have an economic advisory council giving the ministers responsible for the economic portfolios a helping hand to draw the economic plans for the upcoming period.