PM holds meeting to discuss measures to ensure availability of goods and products

Cairo – February 6, 2024: Ahead of the Ramadan season, Prime Minister Mostafa Madbouly convened a meeting with several ministers to review initiatives and coordinate efforts among ministries aimed at ensuring the availability of goods and products across the country.

Madbouly also highlighted the government's measures to enhance the inflow of foreign currency into the market which aim to address challenges, particularly concerning fluctuating prices of essential goods, according to a Cabinet statement.

Spokesperson for the Cabinet, Mohamed Al-Hamsani, stated that the meeting explored actions and steps taken by stakeholders to guarantee the adequate supply of goods in the market at reasonable prices.

The statement explained that efforts to attract foreign direct investment, as well as agreements with the International Monetary Fund, are expected to stabilize prices and ensure a sufficient supply, according to the statement.

The meeting also discussed the ongoing commitment to support the industrial sector and provide necessary raw materials for its operations, which is expected to contribute to increased volumes of goods and products, fostering stability in their prices and the overall market, particularly ahead of Ramadan.

In the past few days, citizens on social media have shared sudden spikes in Ramadan essentials, particularly oil, despite being on sale.

The cabinet spokesperson highlighted the government’s various initiatives to bring in large quantities of goods into the market, as well as collaborations with commercial chains and producers to establish stable and mobile outlets nationwide to meet citizens' needs.

He also mentioned that the meeting spoke on the importance of expanding distribution networks across the country to efficiently provide goods to citizens.

On a separate note, secretary-general of the Federation of Chambers of Commerce, Alaa Ezz, recently shared in a call-in to one of Egypt’s late-night talk shows, that “We have large stocks of goods, whether released or stuck in ports,” adding that “the benefit of having accumulated goods in ports is that we now have lots of goods stocked up. And the continued decline of the parallel market exchange rate may