Bishai: Stable exchange rate, interest cuts boost Egypt’s economy

Businessmen Team economy 03 January 2026 09:42 PM

Matta Bishai, head of the Domestic Trade Committee of the Importers Division of the Federation of Egyptian Chambers of Commerce, stated that exchange rate stability represents a fundamental pillar for enhancing companies’ ability to prepare accurate financial plans. This, in turn, positively affects market stability and leads to a gradual decline in price levels. He emphasized that the recent drop in the US dollar’s value is a “real reduction,” not a temporary one, benefiting both the national economy and citizens alike.

Bishai explained that the decision to cut interest rates is a positive measure that supports economic activity and eases the burden on citizens. He noted that this policy shift was driven by the decline in inflation rates from nearly 40% to around 12% currently, providing broader scope to stimulate investment and production.

He stressed the importance of coordinated efforts and strengthening the role of regulatory bodies to decisively combat monopolistic practices in food commodities and curb the greed of certain traders and companies that undermine consumer security and market stability.

Bishai also called for increasing labor productivity by improving work quality, boosting exports, and maximizing foreign currency earnings, particularly from tourism, outsourcing services, and foreign investments. He noted that these measures would help support the Egyptian pound’s exchange rate, reduce import costs, lower unemployment, and raise citizens’ incomes.

He praised the efforts of the Ministry of Industry, under the leadership of Kamel Al Wazir, to stimulate investment, especially in high value-added and technological industries, describing them as engines for sustainable growth and enhanced economic competitiveness.

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