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Egypt’s government assures US dollar crisis is on its way to a solution

The spokesperson for the Egyptian Cabinet, Nader Saad, said that the US dollar crisis is on its way to being resolved, and that “the numbers prove it.”

In a phone-in with the privately-owned Sada al-Balad satellite channel, Saad added that there were no US dollar resources for the government and the Central Bank of Egypt.

He pointed out that “The ability of the banking sector to deal with the current situation contributed to the release of commodities worth more than six billion dollars.”

“The past period witnessed a significant breakthrough in the release of goods from the ports, which had a positive impact and increased supply in the markets,” he explained.

“The government is seeking, during the coming period, to return prices to what they were before the month of Ramadan, and provide all food commodities.”

Saad revealed that there are commodities worth $8.5 billion in the ports, and that the coming period will witness the release of commodities worth $3.4 billion.

He stressed that “No fines will be collected related to the customs release of the goods.”

Saad pointed out that the delayed goods will be released at the ports as soon as their owners submit a request for release.

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