Exclusive - Egypt's president rules out currency devaluation


Egypt's President Mohamed Mursi smiles during a meeting with IMF Managing Director Christine Lagarde at the Presidential Palace in Cairo, August 22, 2012. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) - Egypt's new president said on Monday he would not impose new taxes or devalue the country's currency and that his government would rely instead on investment, tourism and exports to fix an economy ravaged by a year and a half of political turmoil.

Mohamed Mursi, 61, has a window of opportunity to push through economic change while he still commands political goodwill 50 days into his tenure as Egypt's first freely elected president, economists say.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Russia detains journalist Kevorkova, son says
IAEA chief seeks tougher nuclear checks in Iran, with limited leverage
EU ends rule of law proceedings against Poland under liberal Tusk
Trump to return to New York courtroom for criminal hush money trial
Lamborghini bros no more: Crypto is creating a new wealth effect
Amazon driver fatally shoots person trying to steal vehicle at gunpoint, US cops say
Microsoft ties pay for top bosses to meeting cybersecurity goals
TikTok’s boss goes from reserved tech exec to Met Gala chair
Russia to practice tactical nuclear weapon scenario to deter West - defence ministry
Italy's white-collar mafia is making a business killing

Others Also Read