Egypt to unveil initiative to cut commodities’ high prices in week

Updated 10/4/2023 8:53:00 AM
Egypt to unveil initiative to cut commodities’ high prices in week

Arab Finance: The Egyptian government, in cooperation with the Central Bank of Egypt (CBE), several ministries, and officials, will launch an initiative to mitigate the impact of high prices of basic commodities, Egyptian Prime Minister Mostafa Madbouly announced.

Details on the initiative will be disclosed in the coming week.

Madbouly noted that the government would provide several commodities to the markets, which would contribute to easing high prices, especially of food commodities.

He added that, in collaboration with the CBE, the government would secure the needed dollar component and develop solutions to trim the prices of basic commodities.

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