Curfew Drags Egypt Internal Trade to Loss 15% in Week

Ten days passed since imposing curfew in Egypt, many experts and officials in the internal trade sector have asserted that the trading movement have been reversely affected to loss 15% in a week. Yet the application of curfew has relatively relieved the current state of recession case which the markets were suffered on ongoing turmoil. 

The Deputy Chief of the Grocery and Foodstuff Division Mr. Amr Asfour said the shops incurred 15% losses within the last period, noting that the recent losses have largely been reflected in the employees’ salaries.

Furthermore, Mr. Emad Abdeen – Vice Chairman of Food Division at Cairo Chamber of Commerce – stated that the curfew was not the major element behind the heavy losses for there is the state of recession which is still haunting the Egyptian market.

Mr. Abdeen has expected that the prices of goods are likely to fall by 10% within the upcoming period backed by the low exchange rate of the local currency and the lack of demand, compared to the increase in supply.