Why won’t what happened in 2022 and 2023 happen again and there is no dollar crisis that we will see, and what surprises are prepared by the Central Bank of Egypt and what the numbers say… and what is the story of the $10 billion deal… Stay with us until the end and you will know the details in this report.
Cash flows
As long as there is an abundance of direct flows and investments, there will not be a dollar crisis or it will appear again.. This is the law of the market in all countries of the world, and whoever tells you otherwise will be fooling your mind and saying anything. The price of the dollar is not a measure of the weakness of the pound, but the measure is the availability of the dollar or not. Its price, as said by the great banker Hisham Ezz Al-Arab, CEO of the Commercial International Bank..
Ok, why do we say that there will be no dollar crisis again?
Numbers you need to know
Look, sir, the numbers are what say, “It’s not us.” And when you have huge dollar flows from direct investment, that means money is coming in raw from the outside and landing directly in the Egyptian market, then say “Oh peace” to the dollar, and there will be no returning crises. On the contrary, when the flows increase, the price of the dollar will fall without any friendly words. What we will see in the coming days.. and you want to know why we say that.. Look, sir, for example today, Hossam Haiba, The CEO of the General Authority for Investment and Free Zones met with Tomoho Umeda, founder and CEO of the Polish company Hinfra, and Hussein Al-Ghazawi, executive partner of the Polish company Hinfra in Egypt. The meeting was important because it was dedicated to discussing the Polish company’s request to establish a factory to produce green ammonia in Egypt.
Investment
According to the official statement, the initial investments for the project will be $1.6 billion in direct foreign investments, and will reach $10.6 billion with the production capacity raised to one million tons annually of green ammonia. Surely you understand the number is approximately $11 billion, meaning the International Monetary Fund has loaned approximately one and a half times. This is an investment. There is one project in one of the most important manufacturing sectors in Egypt. Imagine this, from the size of the project and the investments that it will employ, how many young Egyptians will open, how many homes, and the amount of value that it will add to the Egyptian economy and exports. also.
The second important news with us confirms that the dollar crisis will not return again. Today’s figures from the Central Bank of Egypt also revealed a jump in remittances from Egyptians abroad, which jumped during the first quarter of the fiscal year 2024/2025 (the period July/September 2024) at a rate of 84.4%, recording 8.3 billion. Dollars, compared to $4.5 billion, which means it doubled in just two months, according to the numbers.
Transfers from Egyptians abroad
Remittances from Egyptians abroad jumped during the first nine months of 2024 (the period from January/September 2024) at a rate of 42.6%, reaching $20.8 billion (compared to about $14.6 billion), and all of this increase became clear to Egyptian banks and increased the size of the money supply.
All these numbers are only two needs of the dollar resources in Egypt, and with plans to attract investments in the Egyptian market, which aims to attract 20 billion dollars in direct investments per year, these are priority numbers, and the indicators, as we have seen, say that the number will be much greater than that, with talk about Gulf deals. A huge announcement will be made very soon.
