Sameh Zaky: Oil crisis does not affect the prices of local commodities

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Sunday - 21 December 2014 - 1:37 PM

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Eng. Sameh Zaky,  Cairo Chamber of Commerce Board member Confirmed that the Decrease in

international oil prices does not affect the price drop in the Egyptian market, pointed out that the

government is the beneficiaries of that because of  reducing its subsidies.

 

Indicating that the government will not cut energy or petroleum products prices, thus the local commodity

prices will remain at a premium.

 

He noted that the global transport prices «maritime or overland», drops in some countries at a rate of

quarter, By countries not generally, even the global commodity prices drops except in Egypt.

 

So decline in prices of imported goods in the Egyptian market is due to the local currency in the foreign

face, In confront with foreign currency which didn’t decline for a long time.