The decision comes after a recent influx of foreign currency, including $5bn from the Ras El Hekma deal with the United Arab Emirates. The government has been working to address the issue through various measures, including the Ras El Hekma deal. The Ras El Hekma deal is a $35bn investment agreement between Egypt and the UAE. The government expects the Ras El Hekma deal to boost the Egyptian economy and create jobs. The Ras El Hekma deal is the largest foreign direct investment in Egypt’s history.

Source: Daily News Egypt March 05, 2024 12:05 UTC