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Egypt resorts to drastic proposals to solve dollar crisis

Egyptians are at odds over how to solve the country's fiscal crisis, with parliament speaker Ali Abdul Aal calling for shutting down currency exchange companies.
A policeman walks past a currency exchange bureau advertisement showing images of the U.S dollar and other currencies in Cairo, Egypt August 3, 2016. Picture taken August 3, 2016.   REUTERS/Mohamed Abd El Ghany - RTSMD9F
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The Egyptian economy has been suffering since the January 25 Revolution in 2011, in light of the US dollar supply shortage, which is controlling the Egyptian import market. Last year, Egypt's imports amounted to about $65 billion, underscoring its demand on foreign currency.

Before January 2011, Egypt’s economy relied on several key sources, most prominently tourism and foreign investment — two sectors currently in sharp decline.

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