An official source at the Ministry of Supply confirmed the reduction of 4 commodities prices.

This decision comes in response to the positive movement witnessed in the market and the national economy for serving the citizens, pointing out that all prices will return to their normal levels soon with the continued decline of the dollar, increasing foreign exchange resources, stimulating tourism, increasing the national income, reducing the budget deficit and others.

For his part, Hisham Kamel, First Undersecretary of the Ministry of Supply, said that the ministry is cooperating with chambers of commerce to discuss mechanisms of reducing prices in line with the initiative launched by Eng. Ibrahim Mahmoud El Araby, the chairman of the General Federation of Chambers of Commerce and the chairman of the Cairo Chamber of Commerce, which included the demands of traders for the initiative success.

El-Araby stressed that the best solution to activate markets is to abide by disciplined market mechanisms that make a balance between free trade and consumer protection through competition and increasing the supply of goods in different outlets, praising the role of chambers of commerce in controlling prices and supporting citizens by launching the initiative of reducing prices.