Sisi also ordered the bodies concerned to increase the number outlets offering these items at affordable prices, Madbouly added during a press conference at the Cabinet premises, in the presence of Minister of Supply and Internal Trade Ali Moslehi and Minister of Petroleum and Mineral Resources Tarek El Molla.

These outlets will remain open over the forthcoming period to ensure price stability, the prime minister noted.

He added that the Cabinet's meeting today followed up the national economic situation after the CBE's recent monetary policy decisions, including liberalising the exchange rate.

Madbouly also cited presidential directives to expedite the implementation of the decisions arising from Egypt Economic Forum last month, notably the new EGP 67 billion ($3.4 billion) social protection package.

The package, announced last week, includes a rise in the minimum wage from from EGP 2,700 to EGP 3,000 and an EGP 300 bonus for all state employees and pensioners to help them cope with rising living costs.

The government also announced raising the tax exemption limit from EGP 24,000 to EGP 30,000 annually, explaining that a citizen whose income reaches EGP 2,500 will no longer be required to pay taxes.

It also postponed a scheduled hike in household electricity prices from January 2023 to June 2023 to ease burdens on low-income citizens.