Economic expert Saber Al-Wahsh stated exclusively to our source: “Uncontrolled spending has driven the demand for foreign currency to $2.3 billion, while revenues amounted to only $778 million, resulting in a $4 billion deficit in just two and a half months.”
He added: “Based on the latest statement and the Monetary Policy Committee meeting, I believe the Central Bank will resort to adjusting the exchange rate, thinking it’s a solution, but it’s merely a temporary fix.”
He continued: “The correct short-term solution is to unify and control public spending, ensure regular foreign revenues, and avoid deficit financing under any circumstances—except for salaries.”
