Egypt launches initiative to reduce essential goods prices

The Egyptian government has launched a six-month initiative to reduce the prices of essential goods through approximately 280 outlets across various governorates. The program aims to ease the financial burden on citizens and stabilize markets by increasing supply and reducing intermediary costs.

The initiative began with 12 basic commodities, including sugar (25 EGP per kg), oil (50 EGP per 700ml), pasta (9 EGP per 350g), and rice (25 EGP per kg). Throughout September, the list is expected to expand by 18 additional items—such as tuna, milk, lentils, and detergents—bringing the total to 30 targeted products.

Hisham El-Degwy, head of the food commodities division at the Giza Chamber of Commerce, stated that the Egyptian market maintains a stable strategic reserve and does not suffer from shortages. He noted that the current movement focuses on increasing availability and expanding the reach of discounted goods to villages and centers. The initiative is part of a broader strategy by the Ministry of Supply and Internal Trade to enhance market oversight and encourage private sector participation.