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]