CAIRO – 18 April 2024: According to a statement from the Cabinet, Prime Minister Mostafa Madbouly emphasized Egypt's commitment to providing necessary support to local manufacturers and exporters. The government aims to overcome obstacles hindering the growth of Egyptian exports.
To further this objective, a recent meeting was held, bringing together leaders and representatives from export councils.
The meeting focused on advancing efforts to enhance export figures across various productive sectors while strengthening local industries. The ultimate goal is to increase export rates and boost revenue generated from exports in dollars.
The Prime Minister highlighted the significance of closely monitoring market trends and ensuring the availability of goods to the citizens.
These efforts align with recent decisions and collaborative measures taken by the government and relevant authorities. They aim to reduce prices and maintain a steady supply of goods in local markets.
In April, Minister of Finance, Mohamed Maait, confirmed that Egypt has cleared imported goods worth over $8 billion since March 2024.
Additionally, in March, Madbouly announced an initiative, in cooperation with traders and manufacturers, to reduce prices of goods by 15 percent to 20 percent within 48 hours.
This downward trend in prices is expected to continue, ultimately reaching a reduction of 30 percent after the conclusion of Eid Al-Fitr.
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