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Armed forces to assist government bodies in lowering prices: Al-Sisi - Daily News Egypt

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Armed forces to assist government bodies in lowering prices: Al-Sisi

Notable steps taken by end of November to address price increases

The Egyptian armed forces will cooperate with concerned government bodies in order to rationalise the prices of essential commodities and make them available for citizens, President Abdel Fattah Al-Sisi announced on Sunday.

In a speech at the 20th educational session held by the armed forces, Al-Sisi added that concrete action will be taken in this regard by the end of November. The president, however, did not clarify what type of action will be taken.

In September, the Central Agency for Public Mobilization and Statistics reported that the inflation rate increased by 2.8% in September 2015 compared to August 2015.

CAPMAS said that the Consumer Price Index (CPI) registered 172.2 points compared to 164.7 points in August, noting that this increase is the highest since July 2014, as it increased by 3.6%.

Discussing economic improvements, Al-Sisi said the continuous growth in population is preventing people from sensing the development and progress of the economy. He added that such growth places a burden on the state with regards to providing basic services, such as health and education.

The president touched upon the topic of infrastructure projects, saying the aim of those projects is not just to improve the investment environment, but also to revitalise the domestic market.


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