Chambers of Commerce: Wait for further decline in prices

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Thursday - 5 April 2018 - 12:29 AM



The heads of the commercial divisions welcomed the decision of the Central Bank to cut the interest rate by 1% and agreed that the decision reflects the state of stability that the Egyptian economy has reached recently. It also contributes to the revitalization of the investment movement and contributes to the return of many investors to carry out their activities after they have tended to pump their money in banks, whose certificates of investment return is high. they  stressed that raising the interest rate, despite the economic necessity when the Central Bank resorted to, but it made the investment climate very slow, which is being treated now to cut interest rates again.


Ahmed Al-Zeiny, head of the Building Materials Division at the Federation of Chambers of Commerce, affirmed that the Central Bank's decision to reduce the deposit and lending rate by 1% is a reassurance to the stability of the economic situation, stressing that it will reflect positively on the decrease in prices of building materials during the coming period. Banks.


For his part, Ahmed Shiha welcomed the decision of the Central Bank to reduce the interest rate on borrowing and deposit by 1% and said that the decision came at the right time because it will reflect positively on promoting trade and industry movement in the market and encourage traders and manufacturers to pump their money in the market once Other than saving them in banks.


Stressing that it is also positive that the economic situation is starting to move in the right direction, and demanded that the decline in the interest rate to be greater to affect more strongly.