be able to fire around 2000 shelves today with detailed coverage. this is just the staging point from where the journey continues to the place is a virgin. inside of the sun, from around the world of for it is in the dominican republic refer to places such as this one. i thought survive of market because it's meant to cover people's most basic needs. the laura, kyle, this is counting the cost on out this area. we can look up the wealth of business and economics. this week. button is again costing tax as to what does a has of elections. but tell me the conservative governments budget for 2024. when those items surprise i have holes and test stops. egypt followed by billions of

dollars in loans, important investments. will they help sure, the economy and bit points as well, and what's behind the searching price of the digital coins? and is the crypto code is the industry it can't 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 spring budget of 2024 was seen as an opportunity for tom's to 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 we'll get to that without guessing just a moment. first, this report from harry fulton, london to britain's governing conservatives trading by double digits in the poles. this month's budget needed to be a momentum shift to

a vote to get to from a to the 6 employee. national insurance will be caused 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. it is a good bye to what do you know position later part of the 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 wasn't unexpected. that was something so fi placing as a child benefit, i am conflict, tory, but quite frankly, i think the present time and i need to get out now is just a bit if somebody 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 government's fiscal watch talk to i'm clear on potentially competing commitments to increase some public spending while reducing taxes and the size of the national debt. we know the government's plans for a national insurance. we know the government's plans but your energy taxation in 5 years time. i'm but what we know about governments plans for 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 less leading think tank says it's time. a bold reproach was taken from the borrowing or raising tax to invest detected. but you cannot cut your way out for crisis. 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 type books

themselves in with all baterri. fiscal rules posted just the national health service and the cost of living top boot is concerns, territory. labor will look to occupy when the campaign properly gets on the way. are you close it out as the or if accounting, the cost london as well? joining us now from london is for the night, she's chief economist at global data. nothing but great. have you with us here on counting the cost for it? so what do you make of this budget? we've got a 2nd cut in months to national insurance types of paid by what, cuz but how much difference when it actually make to work cuz to the economy and, and ultimately to the conservatives, the state inflation is coming down. so really income suit should start to improve um, but that has been a very tight position for a walk us for, for some time now. and so the tax cuts in the, in a way help. but to me it's a, it's a, it's looking in the wrong direction. it's this whole budget has been um,

dominated as the previous budgets and recent years by this discussion of, of, of fiscal rules, which seems really more of a full cycle to me. that then that's, that's a, a constraint that the government has as almost on necessarily imposed on itself. not to say that there shouldn't be any kind of, of a fiscal rules and management. but the type of fiscal focusing on trying to bring down jet that to be uh over a 5 year period. oh, by a 5 year period. it's a, it's 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 heading from which, which the government has, has spent 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, these, these attempts to, to improve productivity and, and look at the side of the, the, the, the real spending per capita is still going to be fully in the factory all the way there is already a dying. needful is spending in injustice outside dictation across across the board . and that would actually create the type of environment in which businesses could, could flourish. the jump in the use of st. green with the list and how his report that we should well, but some shouldn't 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. where by the, the offices 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 they're, they're a 6400000 people. the waiting for, for treatments and the number of long term sick people that count well in the government is that fluid having to pay the wells that they'll 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 raise per capita investment in, in health care, which was, makes, makes absolute sense. and it's a complete full as economy to, to, to failed to meet that spend. we've got a general election coming up some point this. yeah, do think the condo position policy, the labor policy was many projects will get into power. we'll take that approach to the economy. i think given the recent history, the worry is the,

the, the kind of the shop that 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 at that focus policy, that as has now put the 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 labor gets into power. it's, yes, you mean that, that's, that's the direction that is going to, to unfold. it seems unlikely that they'll, that will come out and then kind of say anything that we would roll that 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 fiscal rules, for instance, taking investment outs of that kind of fiscal rule of work and

a 5 year period so that the government can make necessary investments. okay, 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 a 2nd recession to 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 the back to for the u. k, and actually across across europe. so, and that's, that's 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 where we'll wage price stops to, to, to come through. and essentially, the part of the cycle way of the walking population walk is actually get the share

of, of the, of the pipe of the pulse going over the pulse cycle. that stuff tends to be in a kind of a capitalist economy when that happens. so that's, that's a, that's, that's 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 that's a drag against that happiness by a burgundy to speak to 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. i'm the middle east station has come place to defaulting on it. that's if it doesn't make fun not to 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 international monetary fund, as well could be on the way to, i guess would be a pulse. the chips and pound just had of problems we use in the not many egyptians wanted. they prefer to have us dollars. many believe that currency is a lot more stable. but digits, reserves of dollars, have them 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. it's 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 $35000000.00 developing the russel hit by peninsula on egypt, mediterranean coast, and the book. and then we can, might have an approximate rate of $45.00 to $50.00 egyptian pounds to the dollar after getting money for the last. i'll take my project as well as funds from the am,

if on the european union. now we can achieve a flexible exchange rate determined by demand. egypt as devalued its 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. it's a long time coming of egypt should people have 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 jeep sion pound sign against the us dollar to a record low. many egyptian say it's making life unbearable. is everything in our life link to the us dollar. what happened to the age of sion pounds is worthless, now, a $10000.00 egyptian pound salary is no longer enough for family in a month. the egypt economic crisis made was by the career and of ours pandemic and

russia's invasion of ukraine has been further exacerbated by the war wrong cause of say much so the mass has agreed to accelerate the learning process. the most direct feedback 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, here's a quick look at all the countries that i m. f has approved loans for in the past year. packets to ongoing $3000000000.00 that help prevent the country defaulting on its that's have been swearing, inflation. $2900000000.00 went to shore line codes to rescue as bosses economy. the government implemented spending got some tax hikes to secure enough support. and

earlier this year, the line 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. well, let's 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. we are mess 8000000000 until the end of egypt. it's huge. why has it on the u. a been so quick to aid egypt potential recovery to a good day and thank you. thank you very much for having me on the show and 1st of hold 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 will be the defense because of what is happening in the region. and it's very important to see it from this a lens. we're using this lens because, you know, egypt is

a very important to the reason for the stability and also to counter some of the integrations to europe and the 2 other part of the, of the that and why cheat. and they made it to the union. and also because egypt is suffering now the more than ever, especially after a, because scathing crises, that's that sort of thing from the could be 19 and then to creating a russian war. and now the guys a, a has at work is this, is this going to be the rescue that's gonna save it so oh, is it still at risk of failing? yeah, of course we, we, we don't have actually the risk of failure. we had a problem was and issues we stick with the tea and was wanting to retire, think was wanted to retire. thank edwards, fiscal, a security that we are looking forward to actually we can continue in the hyper installation, which is the 1st enemy to the people after containing the hyper installation we can

restore the dentist who can restore the casual as a capital flows from a wrote and most of the cash flows are a very essential for the, for these options economy actually our and, and ratio our saving ratio, saving graces all from 6 to 8 percent of the to be. and it is, it is not enough to sustain any a growth. obviously to beat from 6 to 8 percent that interest repeat that. so unless we feel these gap was a foreign investments, like hopefully for the nice the invest. so i 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. last 12 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 freeflow think we cannot have officials even multiple treatment themselves said in some countries a luxury, the general tab at the free slope increasing. we can be lucky if we have the soft fixed energy and the soft spring. and if liquidity in order to be solved in order to have to have some flexibility. so when, whenever we receive a good but we, we have good buffers to defend uh, the uh, new rate. and we can have such as the valuation and division this time was very important because you know, the gap between the pad of the market and do for sure. great. it was a huge. and so, so we had to go this way and also to, to, to counter the, a foreign currency crunch, which was, am i going to get? it was actually, and it passed through to the installation in a very a and a bad way. you know, and most of our inputs

a auto strategic so we don't have any elastic inputs. we don't have any in this dispute, you think was your inputs? no 75 percent of that there's a goods and are all materials and, and actually we import like the what we export. that's why we have this is a chronic disease. this is a disease that we, we must look at the differences between different sets, actually, external and internal differences. everything else is out of symptoms, the cutting, scrunch, and even the type of insulation it is a they are all a symptoms through this to, for the a very specific a disease that we old note, the big elephant in the room, which is a, the difference that a document deficit, we keep the link these different set up by having a mega projects by having the white elephant projects. and we kept a few example for long, and we kept a few of them actually by having the external dec reaching 165000000000 years dollars. so we're became very near to

a solvents issue. we didn't tap before. okay. me such a sense of adoptions, a living in poverty, it is a huge number. how long will they start feeling some of the benefits of these reforms? and i believe they were suffering from the hyper and pollution very badly. so with the monetary tire 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 by availing 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 the to update was done. so the shortage you can come up as a reflective directly and pass through dice lead 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 where 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 price is a little bit low, but, and that's 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 country is highest unemployment rate on record. 40 percent of people under the age of 34 hours of work. wait a minute, has moved from the north west. providence one and 3 south africans unemployed.

and those between the ages of 15 and city full make up 40 percent of those without jobs. that's 4600000 people. a company on, you know, milwaukee and these friends live in, grew up in the township of mal flossie in the northwest provence. if not, had steady work for years. i seen high school in high school. i thought i'd definitely with a bit of a few questions here. in the offline for meeting. so i kind of understand a bit of coding and software development. but finding employment has been quite difficult. i think that less than 5 ment i had was sometime last year for me. so if i have to leave for me, it means so it's difficult for me because i don't know if, if i may, so i don't want to convey if i miss at that time, if i'm to, to have me this moment pushing me tease according to the world bank so that forget

has one of the highest levels of any quality in the world. with more than a half of the population living in poverty. and the worsening economies making their lives even more difficult. rolling power outages crumbling infrastructure and corruption of negatively affected investment and economic growth. this is, i mean, 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 hasn't managed the economy effectively and even more people and not wanting points. 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 he's been trying to stuff his own business, but hasn't had much luck. no help from government. officials,

others blame governments. they use, it's not easy to get find these days because the go upstairs get to just just you on the whole. so that's 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 a ultra 0 for counting the cost most was province of africa. bitcoin lost more than 60 percent of its value in 2022. the crypto currency market shrunk by moving to trillion dollars. that's yeah. the bullets how bits claimed was pronounced dead by many observe as bonds. the king of crypto is once again winning over invest as breaking earlier records in the industry. it was booming last week just to kind of say, it's a high off move in $72000.00. as previous record was just on to $69000.00 and november 2021. price is crushed to below $202022.00 of the several major

crypto companies went bankrupt to. well, joining us out from dubai is jamil as my, the chief analyst at c a g t secret. that's an online trading brokerage. great to have you with the same bit content quite the journey hasn't does, but more about why we've had this for subjects now. this time is very hard. we act though for successive days the board and i just read number of subjects bring 1000 us dollars as of the past 24 hours. ready generally speaking, a couple of papers very much back in the 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 finally get approved. that was what let the reading that started in october time, a big car was a friday just about 13000 list on us. 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

transferred to the conversation that was a major drawn. secondly, we have all of that, which is a technical step, but that's, that's taken based on that scene is reduce. and the magic corner is that going to be understood collation and then you have a supply demand back to play right now, a subsidy is a buyer's market. so the less demand the modem and you have a big one and the less finding out if this happened to state based. that's what was a bushing price of this fall. ok. i said that the bit coin was originally created to bypass existing financial institutions. and yet now we have the arrival of institutional investors hoping to fuel its rise. the best complete address, the big code used to be seen as the millennial investors. some somebody used to be saying this for generation. see what you're 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 we've been here for 10 years. also we're

still with the number here, but with the big book. and that's what you see, what the institution some money and just because the crypto countries that will bring it up in flies in dollars just and the best one on the exchange rate from products that is, 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 balances by is 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 that's loose because on the, remind me bring what you saw as the video point. ready options, bunch of praise. we had this in 2021, the one who was 61 percent of our company. i'm sure he mentioned in the interest that was the cream. ready about of 2021, and there was more than

a game in 2022 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'd really like to move with even price direction. but right now, yes, really for the price and even more than $20000.00 less dollars, i would just the price won't change for a lady. now the signals that suffice into the market, but of course the seasons change. indeed they do have pads to put in what you've had to lose great advice html of much 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. let's use the hash tag h a c t c. when meeting adults, some emails counting the cost out of there at dot net is our address on this pension. or for you online at al serra dot com full slash ctc. that'll take you straight to our page with individual reports links and all the episodes fee to

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doesn't, the $464000000.02 pay said buying this.