Where inflation is heading in Egypt?
2/13/2017 0:00
[rtl]Cairo / follow - up to the morning
«My youngest son is suffering from osteoporosis due to lack of milk intake, which amounted to the price of nine or ten pounds per kilo, and I can not feed him eggs on a daily basis, because of its high price , where the price of a single egg and a half pounds.» Thus received or cream, a woman working for a modest job in the Egyptian capital Cairo, emotionally and anger Commenting on the increasing rise in prices witnessed in Egypt in the recent period, especially the prices of food commodities. It announced the Central Agency for Public Mobilization and Statistics, recording annual inflation to a record level of new index, during the month of January last, reaching 29.6 percent, the highest rate recorded since it began measuring inflation in that country.
And pushed food inflation benchmark to rise, recording an increase of 38.6 percent compared to the same month last year, followed by healthcare index by 33.3 percent, and the index of miscellaneous goods and services increased by 31.3 percent.
He says or cream: «my income from my 700 pounds, the equivalent of US $ 38, and my husband 's income in 1500 pounds, the equivalent of $ 85, and we have four sons , all in the learning stages. I cut my food for the education of my children. Waived for the food but do not want to be forced to compromise on education. »
The inflation rate has been recorded in the December / December , 24.3 percent, a record level record for the first time at the time, while 19.4 percent record last November, versus 13.6 percent in October / October last.
Despite that record - high inflation, but experts believe that the real rate may be greater than that, especially for limited-income families.
The name says Fayyad, an economics professor at the Higher Institute for Cooperation on Agriculture in Cairo: «According to the latest search for the family budget for the year 2012/2013, which was announced by the packaging and Statistics Authority at the end of 2015, 40 percent of the Egyptian family spending goes hand food commodities, being the rate of inflation measured this basis. »
He adds: «According to the research itself, the 29.5 percent of the Egyptian poor families or below the poverty line, and these families often spend 60 or 70 percent of their income on food commodities, and therefore the rate of inflation for this is higher than the official figure of families much».
The measures inflation consumer goods and services purchased for the purposes of daily life price index, on an annual basis, that is, by comparing the prices recorded during the same month of the previous year.
Will you continue inflation waves?
Fayyad says this rate is unprecedented in Egypt have not seen the worst of crises, including in times of war.
Fayyad and is likely to continue rising inflation, says: «imports Egypt about 50 percent of its wheat, whose prices have increased more than doubled after the liberation of the exchange rate, and the production inputs and agricultural private fertilizer has increased its price by about 50 percent, and therefore farmers will sell next crop at higher prices and so on . »
The Egyptian central bank, announced on November 3, editor of the Egyptian pound exchange rate against foreign currencies, the government has conducted a substantial increase in fuel prices, in a move she said was part of a long - term economic reform program under the conditions imposed by the IMF
International.
The decline in the Egyptian pound 's exchange rate against the dollar from 8.88 pounds to the dollar before the float down to twenty pounds, before declining slightly in recent days to about 18 pounds, which led to a large and consecutive jumps in the prices of goods and services.
He adds Fayyad: «I expect waves of price rises for months to come, unless there is afundamental change in the domestic production of agriculture, industry and tourism and so on , but to rely on reducing or preventing imports , compelling way that will not work in the long run, as it will cause further recession and inflation» .
But Ambassador Gamal Bayoumi, a former diplomat and secretary general of the Arab Investors Union sees inflation waves will not continue, due to several reasons including the decline in the dollar against the pound during the past two weeks, and government intervention to provide goods at prices
suitable.
He says Bayoumi: « the state intervene to curb inflation, through the provision of goods in the cooperative consumer associations and ration cards, and a public service of the Armed Forces which food commodities provides a cheap price, and the program Takaful and dignity , which provides income for families of
poor»
and adds: « The dollar slipped from 20 pounds to 19 and then 18 and may be today at 17 pounds, due to a package of economic policies , including the reduction of imports, and improve tourism , even a few percent ».
Bayoumi says: « The dollar will decline to lower prices of production inputs, and then decline in the prices of goods and services».
Experts say that Egypt imports about 65 percent of the operating and production requirements, and 70 percent of the consumption of food commodities, and primarily wheat.
Some blame high prices to traders ' greed and the lack of controls on the markets.
Nor deny Abu Jihad, wholesaler of food commodities and the existence of greed when some traders, but it is not the rule and does not represent, in his view, a major cause of price rises.
He says: «about a year before you buy goods for my shop about five thousand pounds a day, now I buy the same amount of goods with eight and possibly nine thousand».
He adds: «I had to add 50 thousand pounds you've Edjrtha capital of Mali, even to preserve the continuation of the commercial project. I suffer because my capital is eroding, and the profit margin decreases with each new rise in prices. »
And confounds locked infection, a wholesaler of food, sued the greed of traders and says: «Are the greed of traders suddenly appeared and infection at the state level? This excuse for failing officials want to blame their failure on the merchants. »
He adds: «If traders were greedy where the means of the state and its instruments to cope with it, then why the state raised the price of subsidized sugar to eight or nine pounds after it was three or four. The answer because there is a real crisis had nothing to do with traders. »
Says Ayatollah Mohammed, a housewife: «My family is made up of six members, and I spent a month about 2,500 pounds, $ 140, and now spent four thousand and Tcfhina».
She adds: «ceded many items from a spending on food commodities, and reduced the number of times eating meat in half, let alone any spending on entertainment. We no longer go out for a walk
about. »
Egyptian President Abdel Fattah al- Sisi had said in December / last December that his government was working «hard» to ease the effects of economic decisions the burden of low - income people , stressing that there was no substitute for taking those
decisions.
Egypt is suffering an economic crisis due to the exit of foreign investment and the decline in tourism revenues and Suez Canal, as well as a significant decrease in remittances from Egyptians working abroad.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=131663[/rtl]
Today at 7:23 am by Rocky
» Governor of Baghdad: 20 projects will be included during the current year in the city of Nahrawan
Today at 7:20 am by Rocky
» More than $242 million in central bank sales today
Today at 7:17 am by Rocky
» Advisor: Sudanese is determined to close the displacement file
Today at 7:14 am by Rocky
» Al-Sudani: The implementation of the 2023 budget witnessed a success that must be invested in
Today at 7:13 am by Rocky
» The Baghdad Council will decide on the nomination of the committees in the coming days
Today at 7:10 am by Rocky
» Al-Samarrai: The Sunni community is not in favor of removing American forces
Today at 7:08 am by Rocky
» A warning from Al-Rasheed to those wishing to apply for advances and loans
Today at 7:06 am by Rocky
» Azerbaijan expresses its desire to participate in the implementation of joint projects in the oil an
Today at 7:05 am by Rocky
» Fuel cards arouse citizens' discontent
Today at 7:03 am by Rocky
» utube 3/18/24 MM&C Iraqi Dinar-- IQD-- Dinar Update -100% Electronic - Real Effective Exchange Rat
Today at 5:21 am by Rocky
» utube MM&C 3/16/24 0:05 / 18:16 Iraq Federal Court Brings - Strength to Financial - Politic
Today at 5:18 am by Rocky
» MM&C 3/18/24 Sudanese Advisor: Iraq will leave government monetary dealing in mid-2024
Today at 5:17 am by Rocky
» A delegation from the Kurdistan government visits Baghdad to discuss the issue of localization of sa
Today at 5:11 am by Rocky
» Director of the Central Oil Company: We are keen to provide the appropriate investment environment
Today at 5:10 am by Rocky
» The Energy Parliament calls for reporting generators violating government pricing
Today at 5:08 am by Rocky
» A representative reveals the fate of the laws of “previous sessions”
Today at 5:07 am by Rocky
» Politician: Coordination holds the keys to resolving the “Parliament Presidency” conflict
Today at 5:05 am by Rocky
» Al-Sudani: Iraq wants to carry out its peaceful activity in the field of atomic energy
Today at 5:04 am by Rocky
» Including a minister and a parliamentarian... 38 arrest and recruitment orders were issued against t
Today at 5:02 am by Rocky
» Integrity: Citizens’ cooperation resulted in detecting inflation and returning state funds
Today at 5:01 am by Rocky
» Agriculture presents 97 projects to the Ministerial Council for the Economy
Today at 4:59 am by Rocky
» Al-Sudani: We succeeded in implementing the 2023 budget, and we must continue to complete economic p
Today at 4:58 am by Rocky
» Labor adopts new mechanisms to reduce the phenomenon of begging
Today at 4:57 am by Rocky
» Electronically.. directing the collection of fees tomorrow in an Iraqi governorate
Today at 4:56 am by Rocky
» Held in Brussels.. Iraq receives an official invitation to attend the Nuclear Energy Summit
Today at 4:55 am by Rocky
» Kurdistan has been paralyzed. There has been no liquidity in hand for 50 days, and the truth has bee
Today at 4:53 am by Rocky
» The dollar continues to decline against the Iraqi dinar on the stock exchange and exchange offices
Today at 4:52 am by Rocky
» The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into
Today at 4:51 am by Rocky
» The Housing Fund advises loan applicants and launches a link for inquiries
Today at 4:50 am by Rocky
» He stressed that the government’s vision is to make one class not exceed 25 students...Government me
Today at 4:48 am by Rocky
» Al-Hakim and Al-Halbousi stress the importance of choosing a speaker for Parliament in accordance wi
Today at 4:47 am by Rocky
» Iron and Steel Company: Iraq is on the verge of a major industrial revolution
Today at 4:46 am by Rocky
» Economists: Citizens still prefer cash transactions over electronic transactions
Today at 4:45 am by Rocky
» The compass of Iraq's foreign policy in a world of turbulent polarization
Today at 4:43 am by Rocky
» Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there
Today at 4:42 am by Rocky
» Integrity calls on citizens to report the inflation of funds in the sector of the Ministry of Labor
Today at 4:40 am by Rocky
» Al-Sudani directs the launch of initiatives for young businessmen and investors
Today at 4:38 am by Rocky
» Representative agriculture emphasizes taking supportive measures for the local product
Today at 4:37 am by Rocky
» An economist calls on the government to support and stimulate the private sector
Today at 4:36 am by Rocky
» Al-Ittihad: Employees and retirees in Kurdistan paid the price of political differences with Baghdad
Today at 4:34 am by Rocky
» Al-Samarrai and Al-Hakim discuss the importance of achieving political and constitutional entitlemen
Today at 4:32 am by Rocky
» Only 23 million dunums. Iraq exploits approximately 50% of its arable land
Today at 4:30 am by Rocky
» Türkiye considers it a political issue.. Where have the negotiations reached regarding Iraq’s water
Today at 4:29 am by Rocky
» Sudanese receives an invitation to attend the Nuclear Energy Summit in Brussels - Urgent
Today at 4:27 am by Rocky
» Central Bank sales exceed $240 million today
Yesterday at 6:52 am by Rocky
» Parliamentary Finance calls on the government to expedite sending the 2024 budget to Parliament
Yesterday at 6:47 am by Rocky
» ‘We’re So Sick of It’: Northern Border Crisis Gets Worse
Yesterday at 6:35 am by Bama Diva
» A representative holds Kurdistan responsible for the faltering legislation of the oil and gas law
Yesterday at 5:27 am by Rocky
» Warnings of the danger of the increase in foreign labor in Iraq
Yesterday at 5:26 am by Rocky
» Iraq's oil exports to America decreased within a week
Yesterday at 5:25 am by Rocky
» Al-Sudani chairs an “important” meeting to form the Kirkuk government
Yesterday at 5:23 am by Rocky
» Investment confirms the adoption of a new method in new residential cities and explains its details
Yesterday at 5:21 am by Rocky
» For the first time in 2024.. exchange rates fall to the threshold of 149 thousand in Baghdad
Yesterday at 5:19 am by Rocky
» Including gold.. An increase in exports of 3 Turkish products to Iraq during 2024
Yesterday at 5:18 am by Rocky
» A detailed integrity report regarding the Housing Fund... called for this matter
Yesterday at 5:17 am by Rocky
» Resources count the number of trespassers in Baghdad.. What about restaurants?
Yesterday at 5:16 am by Rocky
» At a cost of approximately two billion dinars... determining the completion rates achieved in the Ma
Yesterday at 5:15 am by Rocky
» Parliament awaits the “Cabinet of Ministers” law
Yesterday at 5:14 am by Rocky
» Provincial councils return after an absence with a heavy legacy
Yesterday at 5:13 am by Rocky
» Iraq is the axis and meeting point of East and West
Yesterday at 5:11 am by Rocky
» One million beneficiaries of health insurance early next May
Yesterday at 5:10 am by Rocky
» Parliamentary Finance: Delaying the budget had a negative impact on the performance of the ministrie
Yesterday at 5:09 am by Rocky
» The chaos of urban expansion threatens the agricultural character of Diwaniyah
Yesterday at 5:08 am by Rocky
» A project to plant Japanese trees in Erbil
Yesterday at 5:07 am by Rocky
» A team to prepare the national strategy for national security in Kirkuk
Yesterday at 5:06 am by Rocky
» Next Tuesday...concluding a contract to expand the basic design of the city of Mosul
Yesterday at 5:04 am by Rocky
» A festival to reduce food prices in Mosul
Yesterday at 5:03 am by Rocky
» Technical committees between Baghdad and Erbil to resume oil exports through Türkiye
Yesterday at 5:02 am by Rocky
» A model of economic diversification
Yesterday at 5:01 am by Rocky
» Variation in the extent to which Iraq was affected by the decision to reduce the credit rating of {T
Yesterday at 5:00 am by Rocky
» Al-Sudani: Iraq has made a commitment to receive the entire security file from the Ministry of Inter
Yesterday at 4:58 am by Rocky
» The President of the Republic stresses the important role of Mr. Abdul Aziz Al-Hakim in the first st
Yesterday at 4:56 am by Rocky
» The Iraqi Center for Combating Rumors warns against social media celebrities misleading their follow
Yesterday at 4:54 am by Rocky
» Integrity investigates the work of the Housing Fund and indicates debts worth 56 billion dinars
Yesterday at 4:53 am by Rocky
» Agricultural associations in Karbala welcome the provincial council’s decision to prevent the fragme
Yesterday at 4:52 am by Rocky
» Free education lecturers demand that they be given job opportunities and contracts in Kirkuk
Yesterday at 4:51 am by Rocky
» The Digital Media Center calls for not browsing links published on a government page
Yesterday at 4:50 am by Rocky
» The President of the Republic confirms the strength of relations between Iraq and Italy
Yesterday at 4:48 am by Rocky
» A decline in Iraq's oil exports to America during the past week
Yesterday at 4:47 am by Rocky
» Economic researcher for / NINA /: Iraqi youth are qualified for the labor market and relying on them
Yesterday at 4:46 am by Rocky
» The Minister of Planning is following up on the Statistics Authority’s preparations to conduct the g
Yesterday at 4:45 am by Rocky
» 5 days after sending the money and the Kurdistan government has not paid the salaries...a political
Yesterday at 4:44 am by Rocky
» A political reading about Sudanese political concern.. Amending the election law is one of the attem
Yesterday at 4:42 am by Rocky
» Al-Sudani to the Baghdad government: Pay attention to the outskirts of the capital, and drainage mus
Yesterday at 4:41 am by Rocky
» The Iraqi dinar recovers against the dollar in local markets
Yesterday at 4:39 am by Rocky
» Investment provides a summary of Bismaya units... and the new cities have “fixed prices” for the fir
Yesterday at 4:38 am by Rocky
» “Hidden commissions” on electronic fuel cards, contrary to what is advertised.. To whom does 100 mil
Yesterday at 4:37 am by Rocky
» Al-Hasnawi: The government is continuing to accelerate the completion and opening of lagging health
Yesterday at 4:36 am by Rocky
» Oil: The gasoline import file will be closed early next year
Yesterday at 4:35 am by Rocky
» “My account or your account”... a new problem behind the delay in the salaries of the region’s emplo
Yesterday at 4:34 am by Rocky
» Al-Sudani: Iraq is about to host important events and conferences
Yesterday at 4:33 am by Rocky
» In Erdogan's visit to Iraq...the path of development in exchange for water
Yesterday at 4:33 am by Rocky
» An American report on Washington’s seriousness in withdrawing from Iraq: Biden does not want to lose
Yesterday at 4:30 am by Rocky
» The organization is banned in Iraq.. Baghdad decides the fate of the Workers’ Party after 40 years o
Yesterday at 4:29 am by Rocky
» The rain exposes the poor quality of service projects and calls for the dismissal of officials and h
Yesterday at 4:28 am by Rocky
» Politician: Ankara needs Baghdad economically, and the path of development is Iraq’s trump card
Yesterday at 4:26 am by Rocky
» Economic calls to adopt a new philosophy for implementing strategic projects
Yesterday at 4:24 am by Rocky
» Al-Maliki: My alliance with Al-Sadr is possible, and the movement’s distance from it is an unhealthy
Yesterday at 4:23 am by Rocky