Minister’s Spokesperson: Complaints about not providing the dollar to importers have disappeared

Ambassador Nader Saad, a spokesman for the Council of Ministers, said, “The crisis in providing the dollar to importers has ended,” stressing that “the banking sector provides everything that investors need, with regard to commodity priorities in that period.”

He added, during a phone call to the “Al-Hayat Al-Youm” program, presented by the media, Lubna Assal, on Al-Hayat satellite channel, on Saturday evening, that the complaints about not providing the dollar to importers disappeared, saying that the state would not adopt the system of collection documents, except after possessing an abundance of dollars. He was able to meet the needs of importers of hard currency.

He pointed out that the new initiative to support the industrial and agricultural sector aims to support the sector during that critical period, explaining that borrowing within the initiative is at an interest rate of 11%, and the government pays the interest difference.

The minister’s spokesman explained that “listing companies on the stock exchange widens the circle of ownership, encourages the Egyptian or foreign private sector to enter and invest in the stock exchange, and improves management patterns in those companies.”

And he continued, “Investors come from abroad with new ideas and mechanisms for work. Everyone benefits from these propositions. The state is benefiting from bridging part of the financing gap that we suffer from, in the coming period, and the companies will be announced as soon as they are approved by the Council of Ministers.