2024-04-18 04:37:05
Egypt announced a 40% reduction in the price of a loaf of bread in all tourist bakeries operating in the market, for the first time in years.
The spokesman for the Bakery Division of the Federation of Chambers of Commerce in Egypt, Khaled Sabry, said in a statement to the “Cairo 24” website, “The price of a 70-gram loaf of bread has been reduced to record one pound, while the price of a 90-gram loaf has been reduced to record 1.5 pounds in all ovens operating in the market.” “Egyptian.”
He explained that “in the event of any price manipulation by one of the bakery owners, the citizen must go to the Supply Directorate and file a report, and the competent supervisory authorities will take the necessary measures against the manipulators.”
In a related context, Egyptian Finance Minister Mohamed Maait said, “Egypt’s top priority is to reduce inflation to the level targeted by the Central Bank.”
Maait indicated during a meeting in Washington that he “expects growth of 2.8% during the current fiscal year,” adding that “the government aims to raise this percentage to 4.2% in the next fiscal year.”
The Egyptian Minister of Finance identified “the country’s upcoming priorities in terms of achieving financial stability in the country, after it witnessed a stifling economic crisis.”
He stressed that the most important priority “is coordination with the Governor of the Central Bank to reduce inflation rates and reach the targets of approximately 7%.”
The Egyptian Minister of Finance also pointed to “the priorities of developing human capital, the health sector, and education, in addition to achieving growth levels of about 6 to 7%,” noting that “the country aims to grow by 4.2% during the next fiscal year.”
Last updated: April 17, 2024 – 20:52
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2024-04-18 04:37:05