Egypt: Sisi pledges to solve supply problems within 2 months

Egyptian President Abdel Fattah Al-Sisi yesterday pledged to solve the problem of the shortage of production requirements resulting from the restrictions on imports within two months, adding that he gave directions to the governor of the Central Bank in this regard.

Al-Sisi’s pledge came during the inauguration of a number of national projects affiliated to the General Authority for Investment and Free Zones (GAFI). “Before I entered here, I was speaking with the governor of the Central Bank to make sure that they are working to avoid a real problem that may face investment and work in Egypt,” he said.

“A month or two at latest to remove all the constraints that we are talking about.”

Earlier this year, the Egyptian government imposed import regulations due to foreign-currency shortages, which disrupted supply chains. Some of the restrictions eased this month.

Citing the global economic problems resulting from the Russian war on Ukraine and the COVID-19 pandemic, Al-Sisi said that the state is exerting utmost efforts “in light of the harsh conditions facing the world, including developed industrial countries.”

He called on businessmen and investors to continue to work for the country’s development while acknowledging the obstacles they have been facing recently.

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