Custom dollar, propelling local manufacturing, troubling importers

Doaa A. Moneam
1 Min Read

The ministry of finance has announced that the custom dollar price will follow dollar exchange price set by the Central Bank of Egypt for non-essential commodities, raising it by about 15%, while it remains stable for essential and strategic ones.

The decision that triggered controversy among all concerned bodies, and is one of the consequences of the economic reforms implemented two years ago.

Meanwhile, various other sources considered this step as an important procedure to protect the national industry; whereas others criticised it, describing it as a detrimental process for domestic manufacturing and for the import sector.

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