Egypt To Reduce The Prices Of Basic Commodities

Prime Minister, Moustafa Madbouly announced that the price of 7 basic commodities will will be reduced as per the cabinet’s new price reduction initiative.

Starting next Saturday, the prices of these basic commodities will be reduced by a range varying from 15% to 25%.

These commodities include:

Beans, lentils, dairy, white cheese, cooking oil, pasta, rice and sugar. 

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During the meeting, Madbouly also noted that an agreement was also reached with the Poultry and Egg Producers Union to make a 15% discount on live and frozen poultry and eggs.

Additionally, he pointed out that decisions were taken by the Minister of Finance, and signed by the Prime Minister, regarding the suspension of a number of duties and customs on some production requirements for these goods for a period of 6 months, in order to ensure a decrease in prices, followed by stability in the price of these products.