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Monday, 29 August 2022

Monetary policy continued to top the business agenda on the talk shows last night

The talking heads are going deep on the potential loosening of import restrictions: Prime Minister Moustafa Madbouly’s sit-down with CBE governor Hassan Abdalla got a lot of attention from the talking heads, with Al Hayah Al Youm (watch, runtime: 4:10) and Salet El Tahrir (watch, runtime: 4:54) discussing the meeting and what it means for monetary policy moving forward. We have more on their sit-down in this morning’s What We’re Tracking Today section, above.

Optimistic about the shakeup at the CBE: “I believe that someone like Hassan Abdalla, who’s had a lot of experience in the banking industry leading this file… is capable of leading this crucial file alongside his advisors, like Hisham El Ezz Arab, who also has a good history with management experience,” Mohamed Al Bahi, board member at the Federation of Egyptian Industries, told Salet El Tahrir.

The government will spend an additional EGP 833 mn a year on additional support for ration card holders that will come into effect on 1 September, Supply Ministry spokesperson Ahmed Kamal told Ala Mas’ouleety (watch, runtime: 4:01). Some 36 mn individuals will benefit from the new measures, he added.

Egypt’s population explosion also got some attention on the airwaves: The country’s population is growing 4x faster than is world’s most populous country, China, Amr Hassan, former secretary-general of the National Population Council, told Ala Mas’ouleety (watch, runtime: 3:48 | 4:14). We’re currently ranked 14th in the world in terms of population size, and we will likely be in 11th place by 2050, Hassan said.

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