MP requests briefing from PM on economic situation in Egypt

Member of the House of Representatives and Vice President of the Egyptian Social Democratic Party, Freddy al-Bayady, submitted a request for a briefing addressed to the Prime Minister, demanding the accurate financial and economic situation of Egypt.

Bayady said, Wednesday, that prices are increasing every day, in Egypt, especially with the rise of the US dollar exchange rate on the black markets and the crazy rise in gold prices at the same time, which is causing panic and insecurity among citizens.

Bayady pointed out that the continuation of these conditions in light of the absence of information and the lack of clarity of the upcoming situation leads to more turmoil in the markets and more rumors related to the economic conditions.

He called on the prime minister to present the financial situation frankly at the House of Representatives in a statement to the people, including the status of the World Bank Fund loan and the accompanying economic measures that affect the citizen.

He asked clarifying steps the government will take to control market prices and unprecedented inflation rates, and whether the Egyptian pound will be floated again as rumored.

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