‏مصر.. هل تنجح مبادرات ‏خفض الأسعار في كبح التضخم؟

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00:00 Here, a food product's prices have dropped by about 10% in the past few days,

00:05 and another product's price has not increased by more than 5%,

00:10 while many products remained unchanged.

00:13 This is how the situation in the Egyptian markets began

00:16 after about a week of the Egyptian government's agreement

00:18 with manufacturers and merchants to lower the prices of basic and food products

00:22 by a rate of 15% to 20% and up to 30% after Eid al-Fitr,

00:30 a day after all products' prices have increased sharply in the past few months

00:35 due to the double price of the exchange rate and the high prices of some merchants

00:39 in pricing their products before the Egyptian central government decided

00:42 to lower the exchange rate by one month.

00:45 The government is doing its best to motivate the merchants

00:50 to lower the prices of food products.

00:53 We hope that the merchants will accept this initiative

00:57 so that they can feel the government's effort,

00:59 so that the ordinary citizen can feel the effort of the government.

01:02 For me, the food product's price has dropped by 15%,

01:07 but it has not reached 20%.

01:12 If you go to a supermarket and buy this product, you will be disappointed.

01:15 The foreign books have not decreased.

01:20 The drug prices have not decreased.

01:25 As for food, there is a very low decrease,

01:30 and this decrease is not a 100% reduction.

01:33 I see that the prices are going down, and sugar is going down, and everything is available.

01:38 And all the commercial rooms, including the room in Cairo,

01:42 are very interested in lowering the prices.

01:45 Some products have indeed decreased,

01:47 but the world is still better than this.

01:50 We see that the dollar has decreased a little more than this.

01:53 The agreement, which also includes the major commercial chains,

01:56 which represents more than 70% of the market size,

01:59 aims to control the rise in the rate of inflation,

02:03 in addition to lowering prices,

02:05 in line with the value of lowering the dollar from the average market

02:08 and reducing the burden of living on citizens.

02:11 But it comes at a time when fuel and solar prices have seen new increases.

02:17 It may have an impact on the price trend.

02:20 We say that there is a near gap.

02:22 This near gap will come through the supply and demand in the products.

02:26 Products are starting to be sold in the markets,

02:29 so there will be no big increase in demand from consumers,

02:34 because they are already confident that the product is in the market.

02:39 This will make the prices in the markets fall.

02:43 This is what we see in the current situation.

02:46 Prices have started to decline.

02:48 Basic goods such as sugar, rice, pasta and flour

02:53 have started to fall by more than 30% to 40%.

02:57 The Egyptian president has directed the government

02:59 to allocate between $1 billion and $3 billion

03:02 to import basic goods in order to combat trade corruption

03:05 and to manipulate prices.

03:07 Leaving the smoke zone and reducing the burden of citizens

03:11 are the government's goals,

03:13 which are behind its efforts to lower the prices of basic goods

03:16 in line with the values of lowering the dollar in recent weeks.

03:20 Farouk Youssef, CNBC, Al-Qahera

03:23 [BLANK_AUDIO]

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