The head of the Egyptian Engineering Export Council (EEC) Sherif al-Sayyad announced Saturday that Egypt is suffering from a large gap between exports and imports, which is about double. In his interview with the talk show “Hadith al-Qahira” (Cairo Talk) on the “al-Qahira wal Nas” (Cairo and the People) channel, Sayyad explained that “there is a gap of up to US$ 40 billion that must be reduced by maximizing foreign exchange resources.” “We export goods worth $42 billion annually, including petroleum exports, while our imports amounted to US$ 75 to $80 billion annually,” he added. Sayyad added that this situation “will force us to evaluate the currency every four or five years,” noting that t
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