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

Summary

The 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.