Egyptian dairy collection centers on a 25% new increase in milk due to the 3% interest rate hike

Hussein Abu Tejar, head of the Dairy Collection Centers Association, confirmed that the decision to raise interest by 3% by the Central Bank affects the dairy and cheese industry in Egypt, pointing out that this decision increases the financial burdens on dairy collection centers. And the Monetary Policy Committee of the Central Bank of Egypt decided, in its meeting, yesterday, Thursday, to raise interest rates on deposits and lending for one night, and the price of the main operation of the Central Bank, by 3%, to 16.25%, 17.25%, and 16.75%, respectively. Abu Tajar added to Al-Mal that the milk collection centers deal permanently with bank installments to pay off the loans they borrowed in the last period, pointing out that this decision raises the monthly installments on ...