Cars and spare parts prices to fall within one to two months
Head of Confederation of Egyptian European Business Associations (CEEBO) Alaa Ezz, expects cars and spare parts prices to decline within the next one to two months, following the reduced USD customs rates to EGP16. Prices for imports with a large customs component such as engineering machinery, equipment, as well as cars and spare parts, are expected to fall 11%, proportionate to the drop in the exchange rate, he added. (Al Masry Al Youm)
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