Egypt’s ministry of finance is launching its consumer-spending initiative to provide citizens with discounted goods and to promote local products with discounts reaching 20 percent.
The initiative is designed to stimulate 100 billion Egyptian pounds worth of consumer spending over three months.
The government has made agreements with manufacturers and merchants to offer 15-25 percent discounts on consumer goods for all citizens, and will spend between 10-12 billion pounds to subsidize a 10 percent discount for ration card holders.
The ministry said that the presidential initiative to stimulate consumption including home appliances, electronic devices, ready-made clothes, leather products, furniture, home finishing products, handicraft industries, adding that the discounted products are available online via a website for the initiative mobadra.gov.eg
