By: Mostafa Adel
Cairo – Mubasher: The Central Bank of Egypt (CBE) sold on Tuesday around $120 million in return for medical product imports, two officials working in the treasury sector of a local bank said.
The dollar remained stable at EGP 8.78 in the tender, the officials, who spoke on condition of anonymity, told Mubasher.
The Egyptian government on Monday approved raising the prices of medications worth EGP 30 or less in the Egyptian market by 20%, according to a Cabinet statement.
Egypt suffers from a lack of medication and several medical products. At the same time, companies have been demanding that prices be raised to cover the rising costs of production.
Translated by: Nada Adel Sobhi
