Economist Tamer Abdel Hamid has outlined the key factors contributing to the notable recovery of the Egyptian pound against the US dollar. He pointed to a mix of local and global influences driving this positive trend. Among the reasons cited are the global decline in the dollar’s value, partly due to US President Trump’s policies aimed at weakening the currency to boost American exports. Additionally, central banks have increasingly shifted toward purchasing gold over dollars, with expectations of further declines in the dollar’s value. Egypt’s successful economic reforms have also played a role, improving most macroeconomic indicators. Other contributing factors include an 87% surge in remittances from Egyptians abroad during the first quarter, reaching $9.4 billion, a 19% reduction in the trade deficit, and a 30% annual growth in exports. Foreign direct investment also rose significantly, reaching $6 billion in the first half of the fiscal year.
— new from جريدة العدد الاول
