10/03/2003
It is a mistake to tackle this issue by discussing one side of the equation in a way that makes it imbalanced, leading in many cases to an area that has nothing to do with anybody, i.e. outside the scope of specialty. An analytical approach is preferred in this case to keep away from giving rulings beforehand. ( Available in Arabic )
Exporters of Egyptian exports highly welcome foreign currency rise against the local currency, because this makes them achieve higher revenues from the same quantity they used to export without additional burdens or expenses or even efforts to expand and increase export markets. Thus, exporters are facing a challenge, which they should either accept or reject. They may be joyful of the effortless revenues but, most important, they should seize the opportunity to decrease the value of their exports to gain more competitiveness, increase exports, secure the present and building the future. It is more realistic to have the export and import operations done through banks. This way the foreign exchange revenue of exports will be added to the exporters’ accounts with Egyptian banks without procedures restricting the freedom of using these balances.