Exchange market stable, economic indictors good

The Egyptian Prime Minister Atef Ebeid said that the local exchange market is stable and also the exchange rate of the foreign currencies in a way that led to upping the dealings in both banks and the exchange offices, and it confirmed the success of the new system.

Ebeid following his visit yesterday to Citibank said that the position of Egyptian economy is stronger than it was 10 years ago.

"Economic indicators are good and improving as shown in reports of international evaluation organizations," he said.

The Prime Minister said that the government is confronting the challenge of providing jobs for graduates and upgrading services particularly in popular districts. "Social stability is the base of economic progress," he said.

Ebeid said that the aspired stability will be realized and the government will support future plans of the banking system.

Ebeid added that for 15 years the State has been carrying out a plan to develop all sectors and enhance the competitive ability of economy, national production and services to keep pace with European markets in the light of the signing of the partnership agreement with the European Union.

He invited more investors to come to Egypt to benefit from the facilities provided by the government for international investments.