CBE Allocates US$ 600 Mln For Basic Goods In Ramadan

The Central Bank of Egypt (CBE) has reached an agreement with the Federation of Egyptian Chambers of Commerce to inject US$ 600 million to provide citizens with the basic commodities next Ramadan.

The Federation has sent a list of the basic goods that shall be subsidized to CBE to allocate financial provisions for them, said Ahmed El-Wakil, head of the Federation.

The Federation coordinated with the central bank to limit the depletion of dollar liquidity in the Egyptian market, stressing the importance of this liquidity to control prices.