Economist expects economic stability in 2023

Economist expects economic stability in 2023

Hani Genena, an economist and lecturer at the American University, expected the year 2023 to be the year of economic stability.

He divided the year 2023 in half; The first where people will feel the crises for a short period of time, because the dollar will continue to rise during the coming period, at a small percentage between two or three pounds at most.

Genena added, in televised statements, that during the first half of 2023, the US Federal Reserve and raising interest rates will lead to tension globally.

As whenever the US Federal Reserve raises the interest rate, it affects the whole world negatively, not only Egypt, he explained , adding that this effect will end in the second quarter of 2023, and the second half of next year will bring stability in general for several reasons, including the inflation rate, which will begin to decline.

Most of the measures taken by the Egyptian government to raise food commodity products prices will end in the first half of 2023, he said, adding that the peak of the price rise will be seen at the end of April or in May, after which a decline will begin because global prices already started declining in