Arab Finance: Dr. Mostafa Madbouly, Prime Minister, chaired the meeting of the Supreme Committee for Regulating Markets and Commodity Prices, in the presence of Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Dr. Manal Awad, Minister of Local Development, and Dr. Sherif Farouk, Minister of Supply. and Internal Trade, and Aladdin Farouk, Minister of Agriculture and Land Reclamation.
At the beginning of the meeting, the Prime Minister affirmed the continued efforts made by various concerned parties, in an effort To control the movement of markets and commodity pricesIn a way that contributes to the availability of goods in appropriate quantities and prices to citizens to meet their needs and requirements for these goods, pointing out in this regard the importance of expanding the establishment of more outlets and exhibitions for selling goods at the level of the Republic, in addition to mobile outlets, to reach the various regions of the Republic.
The Prime Minister stressed the importance of continuous monitoring of various markets by various competent regulatory authorities, and dealing decisively with any attempts to hide and monopolize goods.
During the meeting, Dr. Osama Al-Gohary, Assistant to the Prime Minister, Head of the Information and Decision Support Center, Acting Technical Secretariat of the Committee, reviewed a report analyzing inflation trends and food price indicators globally and locally, referring in this regard to the expectations of the Central Bank of Egypt for the inflation rate in Egypt, Which indicates that the inflation rate will remain stable at its current levels until the fourth quarter of 2024, and that it is expected to decrease starting from the first quarter of 2025, also pointing to the expectations of international institutions for the inflation rate in Egypt, which expect it to decrease during the year 2025 as well.
In his presentation, Al-Jawhari touched on the field follow-up of the impact of moving the prices of petroleum products, and the subsequent application of a new tariff for passenger transport at the republic level, the rate of increase in which ranges between 10 to 15%, and the violations that were observed in the commitment to apply this tariff in a number of governorates. .
Dr. Osama Al-Gohary also presented the results of the institutional intervention index to control commodity markets, which is based on data on complaints submitted and dealt with by the Consumer Protection Agency and the Ministry of Supply and Internal Trade, and opinion polls of citizens and retailers on the extent of the success of government measures and initiatives in providing goods and reducing their prices. In the markets.
At the conclusion of the meeting, the Prime Minister mandated that there be a stable and sustainable mechanism; To achieve balance in the markets, through the intervention of various state agencies, represented by the ministries of: Supply, Local Development, Agriculture, and the relevant authorities affiliated with the Armed Forces and the Interior, provided that there is dealing with the intermediary links; With the aim of delivering goods to citizens in outlets where various types of goods are available at reasonable prices.
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