Egypt's decision to adjust customs' duties on luxury goods to benefit economy
Minister of Finance Mohamed Maait
Cairo - MENA
The Egyptian Ministry of Finance’s decision to adjust the customs dollar exchange rate for non-essential goods, tying it to the Central Bank of Egypt (CBE)’s dollar exchange rate will benefit the Egyptian economy as a whole, said the head of the International Monetary Fund (IMF)’s mission to Egypt Subir Lall.
Lall told MENA on Friday that the decision will help improve the efficiency of resource allocation, including the foreign direct investment.
The decision’s impact on inflation rates will be once and will be limited, he said, noting that the decision marks an important progress.
The previous customs practices, such as conducting transactions at fewer exchange rates included an unnecessary implicit subsidy, he clarified.
Minister of Finance Mohamed Maait decided last week to keep the customs dollar exchange rate for essential commodities unchanged at EGP 16 until the end of December.
The decision also adjusted the customs dollar exchange rate for non-essential and luxury goods to be determined as per the dollar exchange rate set by the CBE.
- Wednesday ,05 December GMT 21:03 2018 Bahrain's economic delegation concludes successful India visit
- Thursday ,29 November GMT 20:20 2018 Japan funds project to enhance water quality project in Palestinian town
- Wednesday ,28 November GMT 09:50 2018 Egypt, Saudi Arabia to strengthen economic ties in coming phase
GMT 19:07 2018 Friday ,14 December
Lebanese PM flags up Saudi investment potential, financial tiesGMT 21:16 2018 Thursday ,13 December
Egypt, Algeria sign MoU to increase trade exchangeGMT 21:03 2018 Wednesday ,05 December
Bahrain's economic delegation concludes successful India visitGMT 10:58 2018 Sunday ,02 December
Egypt’s total public investments record EGP 72 bln in Q1GMT 14:23 2018 Friday ,30 November
Saudi Arabia pledges $50 million to UNRWAGMT 20:20 2018 Thursday ,29 November
Japan funds project to enhance water quality project in Palestinian townGMT 09:50 2018 Wednesday ,28 November
Egypt, Saudi Arabia to strengthen economic ties in coming phaseGMT 12:33 2018 Tuesday ,27 November
Egypt's imports of poultry, sugar drop over past 10 months
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 08:01 2017 Friday ,15 December
Surge in number of victims of anti-personnel mines
GMT 22:09 2017 Tuesday ,24 October
Louvre Abu Dhabi signs partnership with Etihad Airways
GMT 16:45 2017 Friday ,24 February
Intra-Syrian negotiations discuss talk format in Geneva
GMT 09:17 2017 Tuesday ,14 February
Leaders praise sacrifices of martyrs doing national duty
GMT 07:34 2016 Wednesday ,28 December
Manama Weather forecast in Wednesday 28 December
GMT 12:03 2017 Monday ,07 August
S. Korea prosecutors seek 12 years' jail for Samsung heir
GMT 00:22 2016 Tuesday ,21 June
Solar Impulse 2 leaves New York, begins Atlantic crossing
GMT 04:05 2017 Thursday ,28 September
Mobily offers latest ICT solutions for SMEsGMT 09:59 2012 Wednesday ,23 May
\'Selsal El Dam\' moves to Alexandria
GMT 09:20 2017 Saturday ,18 February
Saudi security forces bust terrorist cells
GMT 01:01 2017 Monday ,20 March
Saudi Arabia comes to rescue of oil markets, but sentiment remains fragile
GMT 21:20 2017 Thursday ,23 February
New hope for Yazidi women raped, tortured by Daesh fighters
GMT 15:05 2017 Sunday ,07 May
China coal mine accident kills 3, traps 18
GMT 00:59 2017 Wednesday ,22 February
Heart bypass surgery device without stopping the heart'
GMT 18:05 2017 Thursday ,11 May
Israel scraps prison visit for isolated hunger strike leader
GMT 03:51 2017 Sunday ,12 March
Kuwait study suggests room for political parties
GMT 13:15 2017 Monday ,27 November
Shanghai police see no foul play
GMT 09:36 2018 Monday ,08 January
Messi marks new milestone in Barcelona
GMT 21:21 2017 Sunday ,29 January
Iranian FM meets UN Envoy
GMT 02:21 2017 Thursday ,21 December
Chinese jets carry out multiple drills around Taiwan
GMT 08:10 2016 Sunday ,17 April
Parliament speaker to meet Hollande Monday
GMT 06:21 2014 Friday ,11 July
Dutch-Sino education links brings mutual benefits
GMT 21:53 2017 Wednesday ,15 February
US Fed on course to raise interest rates at an upcoming meeting
GMT 10:47 2017 Monday ,11 December
Netanyahu faces pressure in Europe
GMT 09:30 2017 Saturday ,19 August
Visit of Deputy Chairman of Chinese Council of State
GMT 09:12 2017 Tuesday ,14 February
Sterling rises to occasion,keeps Manchester City in title mix
GMT 02:09 2017 Wednesday ,25 October
Jul24/Aug23
GMT 17:51 2017 Saturday ,21 October
Spacewalkers fix robotic arm in time to grab next cargo ship
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor