الريال السعودي يوقف رحلات الحج والعمرة في مصر .. هل يحج المصريين هذا العام!!

الإعلامية دعاء حسن

26 Jan 202404:33

Summary

TLDRThe script discusses the significant economic challenges faced by Egypt, highlighting the drastic devaluation of the Egyptian pound against the Saudi Riyal and the US dollar. It notes a remarkable rise in the exchange rate, with the Saudi Riyal reaching 17 Egyptian pounds, a stark increase from its previous rate of 3.5 pounds. The video addresses the impact on tourism companies halting reservations due to these fluctuating rates, alongside a broader economic downturn marked by a 16 billion pound loss in the stock market, affecting 108 companies. The script also touches on the scarcity of imported goods, from coffee to baby diapers, underscoring the broader implications of currency devaluation on everyday life and the economy. Despite investments in infrastructure, such as bridges and roads, the script questions the prioritization of funds amidst these economic challenges.

Takeaways

😟 The Saudi riyal has greatly appreciated against the Egyptian pound, going from 3.5 EGP to 17 EGP
😣 Tourism companies have stopped taking bookings due to losses from currency fluctuations
👎🏻 The Egyptian pound is rapidly losing value against foreign currencies like the US dollar
😔 Imports to Egypt such as coffee, baby products, pet food, and makeup have dropped
😤 Most consumer spending in Egypt is on trivial items rather than essentials
😁 Egypt is investing heavily in infrastructure like new roads and railways
🤔 But infrastructure investments need to be part of an integrated system
😠 Egypt's stock exchange lost 16 billion EGP in one day recently
😞 Egypt's exports and imports have declined due to lack of foreign currency
💡 Egypt needs stability and prosperity for infrastructure investments to be truly beneficial

Q & A

What is the current exchange rate of the Saudi Riyal to the Egyptian Pound?
-The Saudi Riyal is currently exchanged at around 17 Egyptian Pounds, up significantly from around 3.5 Pounds previously.
How has the strength of the US Dollar impacted tourism companies in Egypt?
-The strength of the US Dollar has led many Egyptian tourism companies to stop taking bookings due to losses, as they cannot set prices with the fluctuating exchange rates.
What is the current exchange rate between the US Dollar and the Egyptian Pound?
-The US Dollar recently reached about 64 Egyptian Pounds, the highest rate yet.
How has the Turkish Lira performed against the Egyptian Pound?
-Despite crashing against the US Dollar, the Lira has recovered slightly against the Egyptian Pound, trading around 2.1 Pounds currently.
What are some impacts of limited Dollar availability in Egypt?
-Limited Dollar availability in Egypt has led to reduced imports of some consumer goods and raw materials. However, these funds are not necessarily redirected to more essential purposes.
How have recent economic conditions impacted the Egyptian Stock Exchange?
-The Egyptian Stock Exchange lost 16 billion Pounds in value in recent trading, with shares declining in 108 companies.
What major infrastructure projects are underway in Egypt?
-Egypt has been investing heavily in roads, bridges, railways and other infrastructure. However, experts caution that holistic systemic improvements are needed.
What consumer goods have become harder to find in Egypt recently?
-Some imported goods like coffee, baby supplies, pet food and makeup have become scarce in Egypt due to import restrictions.
What are the speaker's views on Egypt's infrastructure spending?
-The speaker supports infrastructure upgrades but believes systemic improvements across sectors are needed, not just superficial projects.
How has the Egyptian Pound performed against the US Dollar over time?
-The Egyptian Pound has dropped significantly against the Dollar, from around 15 Pounds per Dollar to over 60 Pounds per Dollar currently.

Outlines

00:00

Introductory Paragraph 😀

The first paragraph provides an introduction to the overall video script, setting the stage for what's to come.

Main Point 1 💡

The second paragraph covers the first main point or theme that is discussed in the video script.

Main Point 2 🔎

The third paragraph explores a second important theme or key message covered in the script.

Conclusion 🏁

The final paragraph provides a conclusion, summarizing the main ideas and leaving viewers with a takeaway message.

Mindmap

Keywords

💡exchange rate

The exchange rate refers to the value of one currency compared to another. It is a central theme in the video as the speaker discusses how the Egyptian pound is falling compared to other currencies like the US dollar and Saudi Riyal. For example, they state that the Saudi Riyal reached 16.55 Egyptian pounds, a huge increase from 3.5 pounds previously. This shows the declining strength of the Egyptian economy.

💡imports

Imports refer to products, raw materials or services that are brought into a country from abroad. The speaker mentions that Egypt's imports have declined due to lack of US dollars. This is leading to shortages of some consumer goods and products that Egypt usually imports.

💡exports

Exports refer to products, raw materials or services that a country sells to other countries. The speaker states that Egypt's exports have also declined recently. This contributes to the shortage of foreign currency like US dollars in the economy.

💡inflation

Inflation refers to the overall increase in prices of goods and services in an economy. While not directly mentioned, the video implies high inflation in Egypt due to the falling exchange rate of the Egyptian pound. This is making imports more expensive.

💡remittances

Remittances refer to money sent home by Egyptians working abroad. The speaker does not directly mention remittances, but the lack of US dollars in the economy likely indicates a fall in remittances too.

💡foreign reserves

Foreign reserves refer to a country's holdings of foreign assets like gold and foreign currencies. Though not stated explicitly, the shortage of US dollars points to dwindling reserves too.

💡fiscal policy

Fiscal policy refers to government taxation, spending and borrowing decisions. The speaker questions some big infrastructure projects, asking if spending is being allocated to the right priorities given Egypt's economic conditions.

💡monetary policy

Monetary policy refers to central bank actions on issues like interest rates and money supply. The video does not mention this directly but implications for Egyptian monetary policy could be drawn from the economic situation depicted.

💡austerity

Austerity refers to policies aimed at reducing government budget deficits via spending cuts or tax hikes. The speaker advocates better prioritization of spending, which hints at a need for austerity.

💡devaluation

Devaluation refers to a deliberate downward adjustment in the value of a country's currency. The video depicts the Egyptian pound devaluing significantly against the US dollar and Saudi Riyal due to market forces.

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