Dr Salah Gouda, an Economist, and Economic Advisor at the European Commission, has revealed that Egypt imports shoddy commodities from China at total value of $1.5 billion each year, including kitchen machines, fans, electric devices and toys with $75 million, while kinds of glasses with $18 million.
Gouda underscored that the state should ration its expenses in a typical way; adding that the current General Budget, which was set by Al Ganzouri Cabinet, exceeded the deficit value with EGP 80 billion. He criticized Egypt for exporting the raw materials with low prices and then importing them with doubled prices, as the value of the raw materials exports amounts to $26 billion.
Dr Salah Gouda has elaborated that the sand is being exported with a purity of 98% at $20 per ton to Italy, Turkey and Israel. On the other hand, Egypt imports the glass, which is made of this sand, at $230 per ton, while Israel exports the glass at $2000 per ton. He stated that the price of the machine, which manufactures the glass, is only EGP 2 million.
