The Egyptian Minister of Finance, Mohamed Maait, confirmed in a statement today, Monday, that customs clearance has been granted for imported goods and products at various ports and customs outlets across the republic, totaling $23 billion since January until now. He explained that priority has been given to essential goods, food manufacturing components, medicines, and production requirements by accelerating the customs clearance process and easing procedures to alleviate burdens on importers and ensure the availability of essential goods in local markets.
The statement noted that the average monthly customs clearance reaches $5 billion. Furthermore, he added that the ministry continues its efforts to secure a strategic reserve of essential and food goods sufficient for citizens for six months. Egypt is facing a shortage of foreign currency due to the high cost of imported goods and is experiencing record-high inflation rates, along with multiple reductions in the value of the pound.
