The economic situation in Egypt is getting worse and this can be learned, among other things, from the easements that came into effect today regarding the issuance of citizenship.
The Egyptian government has determined, among other things, that any foreign citizen who purchases real estate in Egypt, invests in an Egyptian company, or deposits an amount of at least $250,000 in an Egyptian bank account will receive Egyptian citizenship.
According to the regulations that came into force, the citizenship can be "purchased" in 12 monthly payments until For payment of the full amount a foreign citizen will receive a tourist visa.
Egypt suffers from an acute shortage of dollars, which caused the central bank to raise interest rates. This step led to a decrease in the value of the Egyptian pound and hence to price increases for most products since Egypt imports about 65% of what its citizens consume.