Egypt releases $15B worth of goods in Q1
Updated 4/18/2023 7:29:00 AM
Arab Finance: The Egyptian government has released $15 billion worth of goods from ports during the first quarter (Q1) of 2023, Head of the Egyptian Customs Authority (ECA) El-Shahat Ghatoury told Asharq Business on April 16th.
Goods worth between $4 and $5 billion are being released monthly, Ghatoury noted.
Moreover, an official at an Egyptian port confirmed that there are no piled-up goods at ports; however, providing hard currency for some importers could be delayed.
Five sources previously told Asharq Business that the foreign currency crisis made its come back to Egypt last month after a number of private and state-run banks stopped issuing new letters of credit for importers.
In January, Prime Minister revealed that the crisis of goods stuck at Egyptian ports has ended.
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