CAIRO – 04 July 2024: On the first working day, Prime Minister Mostafa Madbouly emphasized the government’s strong commitment to monitor the availability of goods and regulate prices.
He highlighted the importance of maintaining a strategic stockpile of essential commodities to address any emergencies or crises.
During the meeting, Madbouly delegated the task of devising a plan to ensure the availability of goods and price control to Minister of Supply and Internal Trade, Sherif Farouk.
Farouk assured that they have already initiated work on various fronts, particularly focusing on the provision of goods and market regulation.
Furthermore, Farouk highlighted the stability in prices that Egypt has experienced in recent times, attributing it to the steady exchange rate.
In June, the Cabinet announced significant price reductions across different commercial chains since the launch of the price reduction initiative.
Noteworthy decreases ranging from 5.7 percent to 32.5 percent have been observed, extending to retail stores as well, where strategic goods witnessed notable decreases ranging from 4.2 percent to 25.1 percent.
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