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FinancialNews


  • 17-03-19

    Egyptian annual inflation jumps 14.4 percent

    (MENAFN) Egypt recorded last month a 14.4 percent boost in its annual inflation thanks to a 15.4 percent hike in food commodities' prices.

    Leading companies could see the resolution in exporting if the purchasing power made a success in Egypt, suggested Farm Frites Managing Director and General Manager Ahmed Seddik.

    Farm Frites was able to see a surge in its output and capacity while it tapped into the Egyptian market, the official noted.

    It comes after the Egyptian government adopted a new plan that supports exports in offering monetary endorsement of about 40 percent while providing 30 percent of taxation and customs discount and another 30 percent for logistics and technical aid.

    This appears while the Agriculture Export Council targets a jump to hit USD3.5 billion in exports compared to USD2.2 billion over the next 5-7 years.

    MENAFN1703201900450000ID1098263973

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