Egypt releases goods worth $15bln in Q1-23

Newspaper Title: https://www.zawya.com/

Newspaper Number:

Tuesday - 18 April 2023

Cairo - Egypt has released goods amounting to $15 billion in the first quarter (Q1) of 2023, Asharq Business cited Shahat Ghaturi, head of the Egyptian Customs Authority.

Ghaturi noted that the Arab Republic releases goods worth between $4 and $5 billion on a monthly basis.

Last January, Mostafa Madbouly, Egypt’s Prime Minister, stated that the crisis of accumulating goods in the ports ended.

Madbouly highlighted that the average goods in all Egyptian ports are equivalent to the traditional average that existed before the crisis.

However, he pointed out that the matter changed during the last period due to the difficulty of securing dollars in order to import raw materials and goods from abroad.

Earlier in April, the Central Bank of Egypt (CBE) announced that the country’s consumer price index (CPI) inflation retreated to 2.50% in March 2023 from 3.10% during the same month in 2022.