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Saturday, 19 October 2019

Egypt liberalises custom dollar for imported commodities

Doaa A.Moneim , Sunday 1 Sep 2019
Egypt's finance ministry (Al-Ahram)
Views: 4004
Views: 4004

Egypt’s Ministry of Finance announced on Sunday the liberalisation of the custom dollar for imported commodities, which will set according to the dollar price at the Central Bank of Egypt (CBE) as of September, according a statement released by the finance ministry.

In July, Egypt had kept the custom dollar price at EGP 16 for $1 for essential and strategic imported commodities, and EGP 16.68 for non-essential ones.

In January 2017, Egypt started to set a monthly fixed price for the customs exchange rate alongside the implementation of the economic reform programme adopted in November 2016.

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