The Central Bank of Egypt sets out localising household-goods manufacturing

A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.

The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.

What happens next

He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.

Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.

How the decision came about

• new pricing rules for staple goods among next quarter’s priorities
• A review of the timetable with the trade divisions
• A monthly report to the federation’s board

The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.