Egypt This sector needs to increase the capital of its companies by 50% to continue

The head of the Federation of Egyptian Small and Medium Industries, Alaa Al-Saqati, confirmed in an interview with Al-Arabiya that it is necessary to increase the working capital of small and medium-sized enterprises by 50%.

Al-Saqati attributed these estimates to the importance of dealing with these companies To the question of rising material prices prime globallyConsidering that banks have no choice but to increase funding for these sectors, to ensure their continuity and continuous repayment of the loan.

And he felt that it is the third time that these structures, which make up an influential percentage of about 80% in the tertiary or industrial sectors, have passed, after the fluctuation phase of the pound sterling, then the phase of The Corona pandemic, and now the stage of high commodity prices prime and post-pandemic shipments.

He described state intervention as having come at an opportune time to help these sectors play their essential role in the Egyptian economy, which is now taking a closer look at reality.

He referred to the decision of the Central Bank of Egypt to direct banks operating in the Egyptian market to increase financing for the operations of companies and factories, especially small and medium-sized ones, which number more than 126,000 companies and factories, by injecting additional funds with the aim of helping them to deal with the increase in international prices and to maintain operational and production rates.

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