Egypt releases $32 billion worth of goods from customs in the past 5 months

In a recent announcement, Minister of Finance Mohamed Maait disclosed that approximately $32 billion worth of goods had been cleared from various Egyptian ports and customs outlets over the past five months.

The release of goods prioritized essential commodities, food manufacturing ingredients, medicines, and production supplies, ensuring uninterrupted Egyptian production, reduced the burden on importers, and met local demand by supplying all necessary commodities to the domestic markets.

Maait underscored the efforts undertaken to secure the state's strategic inventory of essential commodities for the citizens, aimed at maintaining high quantities in local markets, ultimately contributing to stabilizing prices as much as possible. He also highlighted the unprecedented surge in global prices for goods and services caused by the Russia/Ukraine conflict, which resulted in disruptions within the supply chain.