Hani Genena, an economist and professor at American University, hoped 2023 would be the year of stability.
He divided the year 2023 in two; The first where other people will feel the cs for a short period of time, as the dollar will continue to do in the coming era, in a small percentage between two or three pounds at most.
Genena added, in televised statements, that in the first part of 2023, the U. S. Federal Reserve would not be able to do so. The U. S. and EM interest rates will generate global tensions.
As every time the US Federal Reserve. raises the interest rate, negatively affects the whole world, not just Egypt, he explained, adding that this effect will end in the current quarter of 2023.
The conjunctural part of next year will bring stability in general for several reasons, to which is added the inflation rate, which will begin to fall.
Most of the measures taken by the Egyptian government to raise food prices will end in the first part of 2023, he said, adding that the peak of price increases will occur in April or May due.
There is a significant decline that will begin because global costs have already begun to fall for some commodities globally.
While commodities will rise, albeit at a slower pace, between 5% and 10%, he added.
Genena continued, in a phone interview with TV presenter Angel Gamal: “In the current part of 2023, massive investments will enter Egypt, which will provide a lot of job opportunities,” and pointed out what is happening recently in Egypt.
This is similar to the UN climate replacement convention and is also similar to Europe, especially since Europe has been heavily influenced by the Russian invasion of Ukraine; This has led to an increase in fuel and energy costs in general.
He went on to say: “Europe has begun to look for new energy resources, such as blank fuels, which abound in Egypt; since Egypt is rich in sunlight, air and blank fuels, such as the use of manure in agricultural gas, it is widely available in Egypt.