When those items surprise i have holes and test stops egypt fully like billions of dollars in loans, important investments. Will they help sure, the economy and bit points as well. And whats behind the searching price of the digital coin and is the crypto code is the industry. It cant come by. The person slipped into a session late last year. Many people and businesses struggling with a high cost of living. The concept of policy is bustling for its electrical future against a bleak economic backdrop. The spreading budget of 2024 was seen as an opportunity for tom. So jeremy hunt to offer the dates of some sweetness, concepts of government as training labor in the polls, but is a 2nd tax caught in full months enough to shift the political dial. But well get to that without guessing just a moment. First, this report from harry fulton, london to britains governing conservatives trading by double digits in the polls. This months budget needed to be a Momentum Shift to a vote to get to from 8 to the 6 employee. National insurance will be cost by another to be from 10 percent to a headline measure was a Costume National insurance contributions estimated to save the average employee nearly 600. 00 a year. Does it take to buy to what do you know position, labor costs and policy ending a tax break to those domiciled tax purposes . Outside of the u. K. Was the Prime Minister went to so that the voters analysis showed the overall tax bud already had its highest rates since world war 2 would continue to grow one post budget po. So late, the extended sleep, i guess it wasnt unexpected. That was something so fi pleasing as a child benefit. I am conflict, tory, but quite frankly, i think the present time that i need to get out now is just to pay the committee can speak to is using to promote yourself during a difficult time for the challenges that face. And the government is also being criticism from the governments fiscal watch talk to im clear on potentially competing commitments to increase some public spending while reducing taxes and the size of the national debt. We know that most plans, the National Insurance, we know the governments plans but your Energy Taxation in 5 years time. Im but what we know about governments plans to spending on Public Services runs out off the march of next year by march next year. The most observers expect the conservatives to be out of power. Labor is projected to win a comfortable majority, even in office though labor will have constraints, especially now. The conservatives have spent money. Labor was intending to spend elsewhere on this National Insurance cost, which is 1. 00 left leading think tank says its time. A bold reproach was taken from the borrowing or raising tax to invest detected. But you cannot cut your way out for prices. And as to what we need instead is for them to spend that way out of the crisis. And there were ways to achieve that so long as they are books themselves in width, arbitrary fiscal rules, sol suggest the National Health service and the cost of living top though does concerns. Territory labor will look to occupy when the campaign properly gets on the way. Are you close it out . Just the or if accounting, the cost london, which 1. 00 is now from london is for the night. Shes chief economist at global data. Nothing but great. Have you with us here on cancelling the costs for . So what do you make of this budget . Weve got a 2nd cut in month to National Insurance tax of paid by what . Because but how much difference when it actually make to work cuz to the economy and, and ultimately to the conservatives. Well, in this stage, inflation is coming down, so really income, so it should start to improve um, but that has been a very tight position for a walk is for, for some time now. And so the tax scotts in the, in a way help, but to me its a, its a, its looking in the wrong direction. Its this whole budget has been um, dominated as the previous budgets in recent years by this discussion of, of, of fiscal rules which seems really more of a full cycle to me. That then thats, thats a, a constraint that the government has, as almost all necessarily imposed themselves. Not to say that there shouldnt be any kind of, of a fiscal rules and management. But the type of fiscal focusing on im trying to bring down jet that to be uh over a 5 year period. Oh, by a 5 year period. Its a, its a sort of the wrong stopping place instead of focusing on, on trying to bring down that to g d p. The question should be okay, well how can we improve g d p instead of instead of being handed this sort of fiscal head from which, which the government has spent on on kind of National Insurance contribution costs and, and some, some improvement attempts to improve productivity in the in the n h s, the question should be kind of, can we, can we go farther than just trying to, to, to rehash these, these, um, these, these attempts to increase productivity and, and look at the site the, the, the, the real spending per capita is still going to be fully in a backdrop, the way that there is already a dire need for spending in injustice outside the cation across, across the board. And that was actually create the type of, of environment in which businesses could, could flourish the jump and they use that same green with the list. And how is report that we should well, but some shouldnt be spending more wrong than costing back despite the spiraling that the government should have got itself into this. This northeast of the social feeling prophecy, which is almost institutionalized at this stage. And the bank of england is a part of that as well. With by the the officers budget responsibility will hand hand to the government a we brace full cost and then the government will say, oh, well, we need to to do something to, to constrain the deficit in that context. Both of them recognizing but there is spending, but that needs to be done the most obviously within, within the Health Sector because theyre, theyre a 6400000 people that are waiting for, for treatments and the number of long term sick people that count well and the government is that fluid having to pay the wells bad, theyll all these people has his ways and very, very rapidly over the course of the costs the past few years. So. So making that spending to res per capita investment in, in health care, which was, makes, makes absolute sense and its a complete full so called to me to, to, to failed to meet that spend. Weve got general election coming up some point this. Yeah. Do think the condo position policy, the labor policy was many projects will get into power. Well take that approach to the economy. I think given the recent history, the worry is the, the, the kind of the shock was sent through markets by the, the, the attempt of trust them costs and to transition in a, in a completely inept way, in my opinion, to a, to a gross policy rather than a debt focused policy that has, has now put policy makers on the back foot. And then now worrying about, you know, they have to be physically sensible again and, and, and trying to, to, to stick to these, these fiscal rules of before late. But yet since apollo its yes, you mean that thats, thats the direction that is is going to do on fold. It seems unlikely that theyll that will come out and then kind of say anything that we would roll the but in that sense. But i think my expectation is given, given the sort of the clear spending that needs to be done, the then might be some transition in the nature of physical rules, for instance, taking investment out. So that kind of fiscal rule of over can a 5 year period so that the government can make necessary investments affect without feeling is getting up against it. So just briefly for a, for are we still the u. K. Economy growing by 0. 2 percent in january, that was off to it, sank into effect recession at the end of last year. Is it turning a corner . Is the outlet looking price a that lead the leading and the cases for kind of a 3 to 6 months outlook look back to for the u. K and actually across across europe. So, and thats, thats a, a positive sign, especially inflation is, is coming down relatively quickly. But wage growth is, has remained a reasonably kind of sticky and it will, it will probably start to, to, to decelerate. Wage by wages will probably start to, to be separate. But what that leaves us with is the parts of the cycle web well wage price stops to come through. And essentially, the part of the cycle way to watching population work is actually get the share of, of the, of the pi a over the pulse going over the pulse cycle. Thats, that tends to be in a kind of a capitalist economy when that happens. So thats, thats a, thats, thats a kind of a, a positive the negative, unfortunately, is the policy you still fault. You type a base in terms of, of the school and in terms of monetary policy. And so thats a drag against that happiness by a burgundy to speak to you. Thanks so much for taking the time to join us here on counting the cost. The soaring inflation and a severe shortage of foreign currency. All hits in egypt. Economic crisis has been lessons by the will on garza. Im the middle east nation has come place to defaulting on it. Thats if it doesnt make fun, not for reforms to attract investors. So the government has delivered its biggest of a height and Interest Rates and allowed its currency to float. These measures have released more than 40000000000. 00 and investments and loans from the United Arab Emirates and the instructional monetary fund. And will, could be on the way to engage some beautiful the jeep. Some pound has had a problem to use and not many egyptians wanted. They prefer to have us still as many believe that currency is a lot more stable. But agents reserves of dollars have been running out, and the gap between official black Market Exchange rates has been huge. Now the government is allowing the egyptian pound to trade freely on the Foreign Exchange market. Its part of a deal with the International Monetary fund to lend egypt around 8000000000. 00. Observer safety regulation has been made possible in part by a recent announcement by the u. A. E. To invest the 35000000000. 00 developing the russell hitting the peninsula on egypt, mediterranean coast, and the pin number good my. Have an approximate rate of 45. 00 to 50. 00 egyptian pounds to the dollar. After getting money for the rest, ill take my project as well as funds from the am. If im the p and union, now we can achieve a Flexible Exchange rate determined by demand egypt as the value gets currency 3 times since 2022 bought has maintained controls to fix its Exchange Rate is decision is the 1st time the currency will be determined by the free market, its a Long Time Coming of the junction people whove anticipate this and investors have been putting pressure on the government to actually do this. To narrow the divergence between the official and black market rates. Within minutes of the announcements, the egyptian pound sign against the us dollar to a record low. Many egyptian say its making life unbearable. Is everything in our life link to the us dollar. What happened to the egyptian pound is worthless now . A 10000. 00 egyptian pound salary is no longer enough for family in the month. The egypt economic crisis made was by the korean of ours pandemic and russias invasion of ukraine has been further exacerbated by the war. Wrong cause of say much. So the mass has agreed to accelerate the loan process. The most direct impact is from the switch canal. They use to collect 700000000. 00 per month from revenues. Now traffic is down by 5560 percent bring the egyptian pound may be welcomed by international investors. But egyptians are likely to face more hardship, at least in the short term. Victoria gates and b l g 0. So counting the cost. Well, heres a quick look at all the countries that i m f has approve loans for in the past year. Pack is still on goal 3000000000. 00 that help prevent the country defaulting on its thats have been swearing, inflation. 2900000000. 00 when to show line cause to rescue is passive economy. The government implemented spending got some tax hikes to secure enough support. And earlier this year, the, im ethically to 84700000000. 00 line for auction tina, and facing that has reached a 160 percent. And 40 percent of the population are living in poverty to. Well, lets go now to egypt and speak to that enough. Uh, he is a professor of economics at kyra denial. University is great to have you with us. They are mess 8000000000 lane to egypt. Its huge. Why has it on the u. A been so quick to aid egypt, potential recovery and a good day and thank you. Thank you very much for having me with the show and 1st of old and, and we have to repeat the what, what has been repeated in the media that it has to be to, to, to fame and that to be defended because of what is happening in the region, and its very important to see it from this a lens. Were using this lens because, you know, egypt is a very important to the reason for the stability and also to counter some of the and integrations to europe and the 2 other part of the, of the, the why cheese, because they made it to reunion. And also because egypt is suffering now the more than ever, especially after a, because scathing crises, its that sort of thing from the concrete 19 and then to creating a russian war. And now as the guys, as at work, is this, is this going to be the rescue that is going to save it . So oh, is it still at risk of failing . Yeah, of course we, we, we dont have actually the risk of failure. We had a problem was and, and issues we stick with it and was wanting to retire, think was wanting to retire. Think edwards, Fiscal Authority that we are looking for. Were actually, we can continue in the hyper installation, which is the 1st enemy to the people. After containing the hype inflation, we can restore that remittance has some kind of restore the cash flow as you capital flows from a wrote. And most of the cash flows are a very essential and for the, for these options economy actually our, and im a ratio i wonder at the savings issue of Savings Rates is all from 6 to 8 percent of the to be. And it is, theres not enough to sustain any, a growth, obviously to beat from 6 to 8 percent that is anticipated. So unless we feel these gap was a foreign investments, like hopefully for the nice the investments on look at not in that order or any health, plenty. And we cannot survive a we such as their doings and such a new challenge. Now the agent for the 1st time has had a pound valued by the free market law school and 60 percent of that value with an hour of flotation. That was disastrous for many people in egypt. What is the likelihood of it stabilizing . Well, actually i cannot call it a free floating greek. I dont have that feasibility even though to intrude, like himself said in some countries, i like to the general tab at the for useful conclusion. We can be lucky if we have the soft fix energy and the soft spring and its liquidity in order to be solved in order to have to have some flexibility. So when, whenever we receive a goodbye, we have good buffers to defend. Uh, the uh, new rate we can have such as the valuation and division this time was very important because you know, the gap between the power of the market and for should rate at once. Huge. And so, so we had to go this way and also to, to, to counter the, a foreign currency crunch, which was at, i couldnt get, it was actually and passed through to the installation at university a and a bad way. You know, and most of our inputs a, our strategic so we dont have any elastic inputs. We dont have any of this, this did you think was your inputs . No, 75 percent, our strategic goods and are all materials. And, and actually we import like the, what we export, thats why we have this is a chronic disease. This is a disease that we, we must look at the differences between difference. Its actually external and internal difference. It, Everything Else is out of symptoms. The cut and to crunch, and even the hyper installation, it is a they are all a symptoms through this to, for the a very specific disease that we all know the big elephant in the room, which is uh, the difference at a duct when difference are we keep fueling these differences at by having a mega projects by having a White Elephant project. So we kept a few example for long, and we kept a few of them actually by having the external dec reaching 165. 00, a 1000000000 years dollars. So were became very near to a solvens issue. We didnt have before. Okay. Me such a sense of egyptians living in poverty. It is a huge number. How long will they stop feeling . Some of the benefits of these are phones. I believe they were suffering from the hyper and pollution very badly so they monitor each i think and the loosened control. Ready of deals and control on the us dollar when a try to a tackle both sides of the installation, the supply side, dripping and the demand side demand side by absorbing the excess liquidity and the supply side like a v link interest of the goods. As i said, we had the backlog of goods in the thoughts that we cannot afford to to get into is out of the availability of the stock. So the shortage and come up is uh because reflecting about a key and the best to dive me to an inflation and having the and installation reaching adults like 40 percent a year. And this is the form of what they appreciated what i mean. So yeah, so, and i believe that in the short term and see what they might suffer even more because of the, you know, some, some goods were in posted in a, in a, with it using the old and controlled great and searching for adult book. Now it will move a little bit. Yeah, so this is, this may be all set up a little bit by having a more comment that is available in the market. So that the, uh, the market stuff as long as the game was some sort of competition. Competition that makes prices a little bit lower than that, and thats what we do have to leave it that, but great to speak to. Thanks for joining us. Thank you. Know young people in south africa or a bearing the brunt of the countrys highest Unemployment Rate on record. 40 percent of people under the age of 34 hours of work. Wait a minute as more from the northwest province, one and 3. So the africans are unemployed. And those between the ages of 15 and city full make up 40 percent of those without jobs. Thats 4600000 people club on the on you know, milwaukee and hes friends live in, grew up in the township of my philosophy in the northwest province. If not, had steady work for years. I was in high school in high school, i thought it definitely with a bit of a key question to you in the offline for me. So i kind of understand a bit of coding and software development. But finding employment has been quite difficult. I think the last thing i meant i had was sometime last year for me. So is because i have to leave for me. So its difficult for me because i dont know if, if i may. So i dont want to clarify this, ive been on this, im few to have me this moment pushing me tease according to the world bank so that africa has one of the highest levels of any quality in the world. With more than half of the population, living in poverty and the worst and the economy is making their lives even more difficult. The ruling Power Outages crumbling, infrastructure and corruption of negatively affected investment and economic growth. This is an Election Year for south africa during its manifesto launch the governing African National congress, promised to create 2 and a half 1000000 jobs over the next 5 years. Critics say, despite being in power for 3 decades, they and see hasnt managed the economy effectively. And even more people are now wanting toyed. The government is encouraging people to open their own businesses, especially those living in rural and outside of an area is meant to do. But tyler says hes been trying to stuff his own business, but hasnt had much luck. No help from government officials, others blame governments. They use. Its not easy to get. Find these things because the go upstairs get bit to just just you on the whole. So thats a little big challenge. While these young men say they need to on an income to support themselves and their families, they say daily work is just as important for the dignity to meet them in the ultra 0 for counting the costs north was province of africa. Bitcoin lost more than 60 percent of its value in 2022. The crypto currency market shrunk by move into trillion dollars. Thats yeah. The bullets how bits claimed was pronounced dead by many observers. Bonds, the king of crypto is once again winning over investors breaking earlier records in the industry. It was booming last week just to kind of say, its a high of move in 72000. 00 is previous record was just under 69000. 00 and november 2021. Price is crashed to below 202022. 00 of to several major Crypto Companies went bankrupt to. Well, joining us out from dubai is jamil asthma. The chief analyst at c a g t secret. Thats an online trading brokerage. Great to have you with the same bit content, quite the journey as it does, but more about why weve had this for subjects now. This time is very hard. We act though, for successive days, the board and i just read it out for subject. Pretty 1000 us dollars as of the past 24 hours. Ready generally speaking, a couple of people, its very much back to the price shop. We more than double the price over the past 6 months and essentially is 2 different types of like that. Number one, but each year products buy me to get approved. That was what let the reading that started in october time a bit going was a friday just about 13000 list on this. That means you have products from us as securities regulates that. That essentially meant the institutional money. Ready the 1st serious invest the money i bought coverage so it was fastened to not. Ready transfer to kansas, that was a major drawn. Secondly, we have all of that, which is a technical step, but that such as i can, based on that scene, is reduce and the magic corner was not going to be understood collation. And then you have a supply demand to play right now. Certainly as a buyers market, so the less demand the modem and you have a big one and the less finding out if this happened to state based. Thats what was the impression price of this fall. Ok. I said that the big coin was originally created to bypass existing financial institutions. And yet now we have the arrival of Institutional Investors hoping to fuel its rise. Thats completely dress look, basically used to be seen as the millennial investors. Some somebody used to be saying this for generation, see what youre seeing now with the institutional money. These are the real awesome my interest in other real financial buyers that donate the financial last a not big course. Very much saying that weve been here for 10 years. Also were still with the number here, but with the big book. And thats what you see, what the institution sum of money. And just because the groups of countries that will bring it up in flies in dollars just and the best one on the Exchange Trader products that is very serious products. And that shows the institutional money, which is fine for the major bunch of last, they are now starting to lean into groups of guns as well. So with all this excitement surrounding bit point, is it a good idea for the average investor to put the money into it . If you look at the china, the china, they say a picture says 1000 lives by treating thousands of bias, not true. But of course you have to search the every day personal history on the everyday person that you never invest. Anything more the group exemption, but thats loose because on the, remind me bring what you saw as the video point. Ready datsuns bunch afraid we had this in 2021, the one who was 61 percent of our company. Im sure he mentioned the intro that was the cream. Ready or about of 2021. And there was more than a game in 3022 for for that right, that resumed into 2 legs. He bought some parts for it. So as well, any investments, any type of investment as like as well. What comes up might come down and what investments i mentioned maybe the, the price directions are right now. Yes. Really, for the price and even more than the 20000. 00 list on our side. Ready just the price wont change while fleeting now the signals that suffice into the market. But of course the seasons change. Indeed they do. I am prepared to put in what youve had to lose great advice to me all of my money. Thanks for joining us on counting the cost. And that is also for this week, but remember, you can always get in touch with us find twist. Lets use the hash tag h a c t c. When meeting adults, some emails counting the cost out there at dot net is our address on this pension, or for you online at al serra dot com full slash ctc. Thatll take you straight to our page with individual reports, links, and all the episodes fee to catch up on the flat set from us at counting the cost for now. Im nora kyle and from the whole team here, thanks for joining us. The news on al jazeera is next this freedom of speech on the internet, a right for something, but not for others. Palestinian or airbus content has been removed or restricted when he bu, content hasnt just 0 world investigates where the social media platforms moderate content equally, especially in times of complex. Theres a good understanding of the matter is the press. There are the standards between Israel Security services. Another part is like my to close cyber space on the east timor and use this to, to the catholic nation, but scandals involving high profile priests play. The charge of us goes back. We were all of these gifts, some of the countries talk to just openly stand by the clerics, even after one was sent to prison, 101 east investigate east t most priest candles on out just sierra after a 10 year journey in which it has become the most important translation award from an into the how to rubik language world wide shake come out. Award for translation and International Understanding of dumps is the opening of the nomination period for the year 2024 starting march 1st to may. 31st nominations are made on the award official website, w, w, w dot h t a dot q a forward slash e m. In a world full of documents. Hope was so scary. You donated we delivered in remedies and breaks. Weve touched lives in you. In this holy month, the power of kindness, gray, in the joy of breaking fox and the footprint. We remember the blessings we all meant to share. For that, do a sacred play is now your duty to fulfil all that can possibly be the the most latest proposal for a cease fire in gaza is rejected by israel as Prime MinisterBenjamin Netanyahu approves plans to attack ross on the arm about the center. This is audra 0, i live from dell hom, also coming up the consequences of a ground operation in rough uh, in the current circumstances, catastrophic. The u. N. One is against and is really assault on graphite. Over 1500000 palestinians are