Egyptian Military & Destruction of Economy – 6

Source: Egyptian Institute for Studies

Author(s): Abdelhafez Alsawy

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XXVI- Funding For Youth Projects Implicates the Egyptian Banks

The Egyptian economic management has been witnessing false performance and undergoing weaknesses and lack of coordination between its components since the military coup in Egypt. Abdel-Fattah El-Sisi has recently issued his orders or assignment to the Central Bank of Egypt to provide through the banking system an amount of LE 200 billion for the financing of the small and medium enterprises, possessed by young people, at an interest rate of 5%, while the interest rate in Egypt is moving to touch the ceiling of 13% for depositors and 18% for borrowers.

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