President Abdel Fattah al-Sisi discussed with state officials on Wednesday issues related to providing food commodities, including the wheat harvest which will continue until July. A military report on the operation carried out by Egyptian forces in Libya following the incident was also presented to Sisi. The meeting discussed the decision of the Central Bank of Egypt to raise the interest rate on deposits and loans. Tarek Amer, Governor of the Central Bank, said the decision aims primarily to reduce the inflation rate, which is a major obstacle to investment. He pointed out that the Central Bank takes into account all classes of society in its decisions, which aim to stabilize prices and adjust markets.

Source: Egypt Independent May 31, 2017 09:33 UTC