Egyptian economists have been voicing criticism over the government’s contracting strategies and policies for handling the present economic recession in local markets, reported Al-Sharq Al-Awsat newspaper.
They said that, on the one hand, the government lowered interest rates to boost the economy and eliminate the recession, while at the same time approving the second and third phases of the sale tax, which will push prices up and deepen the recession.
Sultan Abu Ali, a former economy minister, stated that the two contradicting measures reveal that there is no coordination amongst the various governmental ministries, agencies and offices, as far as monetary and fiscal policies are concerned. — (MENA Report)
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