Arab Today, arab today morsi gets tough with the caviar classes
Last Updated : GMT 16:36:39
Arab Today, arab today
Arab Today, arab today

Morsi gets tough with the caviar classes

Arab Today, arab today

Arab Today, arab today Morsi gets tough with the caviar classes

Cairo - Arabstoday

President Morsi has issued a decree raising customs tariffs on 100 \'luxury goods\', including shrimps, caviar and chewing gym. The move comes as the Egyptian government struggles to reduce its balance of payment deficit and raise state revenues to bridge the government funding gap. The decree issued on Sunday raises customs tariffs by 5 percent to 40 percent on items including sunglasses, watches, nuts, boats and videogames. A two percent tariff was levied on materials used to manufacture baby milk formula. A 20 percent tariff was placed on all equipment imported by tourist establishments, excluding automobiles. The Egyptian pound has lost some 10 percent of its value since the beginning of 2013, after the central bank ceased to freely support the local currency due to a sharp drop in foreign reserves. Tariffs on imported cars that run on natural gas or electricity, however, will be reduced by 25 percent and tariffs on imported parts in assembly industries will be reduced by 10-90 percent depending on the local component in the final product. Egypt\'s Balance of Payment (BOP) deficit has mushroomed since 2011 as tourism, a major currency earner, came to a near halt after the uprising that toppled president Hosni Mubarak. The BOP deficit dropped to $551.5 million in the second half of 2012 from an $8 billion deficit in the same period the previous year. This is far from pre-uprising rates when there was a balance of payments surplus of almost $570 million during the 2010/2011 fiscal year. Albawaba Business

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today morsi gets tough with the caviar classes Arab Today, arab today morsi gets tough with the caviar classes

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday