Egypt did not delay in paying its debts… and the lack of clarity of vision is the reason for the reluctance of investors

Dr. Maged Shawky, an economist and former chairman of the Stock Exchange, confirmed that there is an internal crisis of confidence economically, and it crystallized in the actions of the citizen, who began to take measures for himself and caused an increase in the demand for cars and real estate and the purchase of gold, and it turned out that there is a state of confusion and that there is no A vision for the future.

Shawky indicated, during his interview on the “Cairo Talk” program, with the journalist Ibrahim Issa, broadcast on the “Cairo and the People” screen, that the private sector is still declining and domestic consumption has begun to decline, which are causes that have confused the economy, stressing that there are certain commitments that the government was not able to Provided that he died with it, which was the reason for the emergence of negative economic reports, and focuses on Egypt’s commitment to Egypt’s payment of the Diwan.

He made it clear that Egypt was not late in repaying debts, noting that the country’s economy is not only based on a certain ideology, but must depend on a number of daily expectations, stressing that investment banks are present in Egypt and have a history since the nineties and continue until now.

He noted that there must be powers for the head of the investment commission and there should be solutions to the problems of investors, explaining that it is not necessary that the one who manages the investment commission be a specialized person, but he must have the power to solve problems.

And he continued, “The lack of clarity of the economic vision is a reason for the reluctance of investors,” stressing that the decision to float is issued by one side, which is the central bank, but the responsibility is combined between the government and the central bank, adding that if the interest rate is raised, it will have a limited effect in the current period, as the flotation must Having a dollar balance and not having this balance will not enable us to move the exchange rate.