{"id":553642,"date":"2022-10-31T03:45:36","date_gmt":"2022-10-31T03:45:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/the-aftermath-of-the-egp-float-continued-to-dominate-the-conversation-on-the-airwaves-last-night\/"},"modified":"2022-10-31T03:45:36","modified_gmt":"2022-10-31T03:45:36","slug":"the-aftermath-of-the-egp-float-continued-to-dominate-the-conversation-on-the-airwaves-last-night","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/the-aftermath-of-the-egp-float-continued-to-dominate-the-conversation-on-the-airwaves-last-night\/","title":{"rendered":"The aftermath of the EGP float continued to dominate the conversation on the airwaves last night"},"content":{"rendered":"

The economic impact of Thursday's float of the EGP continued to dominate the <\/strong>airwaves last night<\/strong>, with the nation\u2019s talking heads doing their best to put a positive spin on events and officials trying to assure the public on rising prices and the availability of goods.<\/p>\n

Nobody wanted to talk about the coming wave of inflation:<\/strong> Some analysts<\/a> are expecting the headline inflation rate to reach 20% by the end of this year on the back of the EGP float, but you wouldn\u2019t have known it from last night\u2019s talk shows, which avoided discussing the coming squeeze on living standards.<\/p>\n

Instead, everyone wanted to talk about how prices will fall:<\/strong> Ayman Hossam El Din, head of the Consumer Protection Agency, told Kelma Akhira that prices could begin falling in the next three to four months (watch, runtime: 3:05<\/a>). The deputy chairman of the Egyptian Poultry Association, Tharwat El Zeiny, said that chicken prices won\u2019t rise any further because \u2026 chicken prices are already high.<\/p>\n

Price controls on sugar? <\/strong>Abdel Moneim Khalil, head of internal trade at the Supply Ministry, floated the idea of putting price controls on sugar in the event of price gouging (watch, runtime: 5:27<\/a>).<\/p>\n

A new Moody\u2019s report provided another source of positivity: <\/strong>Kelma Akhira\u2019s Lamees El Hadidi dedicated a segment to explaining a new Moody\u2019s report out yesterday which said that the decision to devalue the currency will improve Egypt\u2019s funding situation. Amr Hassanein, chairman of rating agency Meris, joined El Hadidi to discuss the report (watch, runtime: 7:16<\/a>).<\/p>\n

MEANWHILE- The Madbouly government struck an optimistic note on wheat supplies <\/strong>just days after a key global wheat pact went belly up<\/strong>: <\/strong>The state is moving to reassure the public that the country\u2019s wheat supplies will not be threatened if exports of Ukrainian wheat are suspended long term. Ahmed El Attar, head of the Agriculture Ministry\u2019s quarantine authority, said that the government has taken \u201cpre-emptive steps\u201d to secure wheat supplies and has built up reserves of strategic commodities (watch, runtime: 3:04<\/a>). This came a day after Russia pulled out of the UN-brokered agreement that allowed Ukraine to resume grain exports, threatening to cause a shortage of wheat and reignite the global food crisis triggered by the war in Ukraine.<\/p>\n

No, bread subsidies haven\u2019t changed: <\/strong>The government refuted reports it plans to lift bread subsidies and replacing them with cash support for the neediest. The news got air time on state TV\u2019s El Tasea (watch, runtime: 7:57<\/a>) and Masaa DMC (watch, runtime: 1:33<\/a>).<\/p>\n

Yes, but:<\/strong> The government is looking at ways of reforming bread subsidies, with Supply Minister Ali El Moselhy earlier this month<\/a> calling on MPs to examine ways of scaling back the program. It\u2019s not clear whether reform to the program is a requirement of the recently-agreed USD 3 bn IMF loan, but we should find out more on the conditions when the executive board meets to discuss the agreement in December.<\/p>\n","protected":false},"excerpt":{"rendered":"

The economic impact of Thursday's float of the EGP continued to dominate the airwaves last night, with the nation\u2019s talking heads doing their best to put a positive spin on events and officials trying to assure the public on rising prices and the availability of goods. Nobody wanted to talk about the coming wave of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[317,104,1419,72,565,272,182,106,1324,1341,98,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553642","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-commodities","tag-economy","tag-egp","tag-enterpriseam","tag-food-security","tag-imf","tag-inflation","tag-last-nights-talk-shows","tag-moodys","tag-russia-ukraine-conflict","tag-subsidies","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"b077a3ea-ff12-4e41-a451-1e59b7104bff","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[553630],"teaser":"","voice_url":""},"yoast_head":"\nThe aftermath of the EGP float continued to dominate the conversation on the airwaves last night - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/the-aftermath-of-the-egp-float-continued-to-dominate-the-conversation-on-the-airwaves-last-night\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The aftermath of the EGP float continued to dominate the conversation on the airwaves last night\" \/>\n<meta property=\"og:description\" content=\"The economic impact of Thursday's float of the EGP continued to dominate the airwaves last night, with the nation\u2019s talking heads doing their best to put a positive spin on events and officials trying to assure the public on rising prices and the availability of goods. 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Coming as it does at a time of surging inflation, the move couldn\u2019t have come at a better time, economist Hany\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542867,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/20\/last-nights-talk-shows-minimum-wage-hike-tops-the-agenda-for-second-day-running\/","url_meta":{"origin":553642,"position":3},"title":"Last Night\u2019s Talk Shows: Minimum wage hike tops the agenda for second day running","author":"enterpriseam admin","date":"20 January 2022","format":false,"excerpt":"The 12.5% hike to the minimum wage announced on Tuesday continued to dominate the airwaves on a quiet night last night. The monthly minimum wage paid to public sector workers will rise to EGP 2.7k from July on the instruction of President Abdel Fattah El Sisi, who also directed that\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547353,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/last-nights-talk-shows-food-prices-are-set-to-rise-again-well-be-frying-some-more-of-our-own-oil\/","url_meta":{"origin":553642,"position":4},"title":"Last Night\u2019s Talk Shows: Food prices are set to rise again + We\u2019ll be frying some more of our own oil","author":"enterpriseam admin","date":"19 June 2022","format":false,"excerpt":"Leading the airwaves yesterday: Watch out for (yet more) rises in commodities prices as the war in Ukraine continues to choke grain supplies, Internal Trade Development Authority (ITDA) head Ibrahim Ashmawy told El Hekaya (watch, runtime: 3:20).\u201cWe don\u2019t know when this war will end, [hence] predictions of further price increases\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548354,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/last-nights-talk-shows-talking-heads-discuss-food-prices-suez-canal-revenues\/","url_meta":{"origin":553642,"position":5},"title":"Last Night\u2019s Talk Shows: Talking heads discuss food prices + Suez Canal revenues","author":"enterpriseam admin","date":"4 August 2022","format":false,"excerpt":"The latest from President El Sisi led the conversation on the airwaves last night: The president has instructed the government to make available another EGP 1 bn to the National Alliance for Civil Development Work (NACDW) \u2014 an alliance of civil society organizations and associations launched this year to help\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=553642"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553642\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553630"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553642"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553642"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}