STORY: Egypt slashes prices of daily necessities amid currency inflation
SHOOTING TIME: April 5, 2024
DATELINE: April 6, 2024
LENGTH: 00:02:34
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
1. various of Cairo citizens shopping at markets
2. SOUNDBITE (Arabic): AMEL ABDEL-QAWY MOHAMED, Director of Supply Department in Cairo's Masr El Gedida neighbourhood
3. various of daily necessities

STORYLINE:

Egyptian government is expanding the supply of daily necessities by giving discounts ranging from 15 to 20 percent.

Markets have already made considerable decreases in prices such as those of poultry and eggs starting from last Tuesday, as the government aims to slash prices of food commodities by 30 percent in the coming weeks in collaboration with the private sector. 
SOUNDBITE (Arabic): AMEL ABDEL-QAWY MOHAMED, Director of Supply Department in Cairo's Masr El Gedida neighborhood
"Of course, we are in the process of carrying out this initiative by decreasing prices, from 15 to 20 percent, of the basic or the strategic commodities such as oil, sugar, pasta. As you know, in the blessed month of Ramadan, we have a lot of challenges regarding the prices of goods, as we have already started decreasing their prices, in participation with some of the commercial chains and supermarkets."

Over the past period, the dollar shortage has resulted in price spikes in the black market in Egypt, leading some companies to hike their prices by more than 60 percent.

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)