CAIRO - (Xinhua) - The Egyptian government is intensifying the opening of exhibitions and commodity outlets that offer products to citizens at significant discounts in order to help them cope with inflation, which is accelerating due to the dollar shortage crisis and the devaluation of the local currency.

The Ministry of Supply and Internal Trade opened “Welcome Ramadan” exhibitions early this year to provide goods to citizens at reduced prices of up to 30%, while the Ministry of Interior announced the launch of group car convoys to sell goods at reduced prices by up to 60% in the areas most in need as part of its “We are all” initiative. One".

While the Ministry of Defense announced the preparation of 3 million food packages to be distributed to citizens at half the price to help in facing the economic repercussions, in addition to increasing the number of fixed and mobile sales outlets throughout the Republic, and offering products and goods at reduced prices.

In conjunction with government efforts, the National Alliance for Civil Development Action, which includes more than 30 associations and civil institutions, launched the largest feeding initiative in Egypt under the title “Your Good is Previous” with the aim of providing food support to 5 million families throughout the year, in implementation of the directives of President Abdel Fattah El-Sisi, in collaboration. Efforts to support the most vulnerable groups.

Dr. Alaa Ezz, Secretary-General of the Federation of Chambers of Commerce, said that Egypt suffers from a high inflation rate, and there had to be mechanisms to support the citizen, so the Welcome Ramadan exhibitions opened early this year.

The annual inflation rate in Egypt during December 2022 reached about 21.9 percent, continuing its upward trajectory from 6.5 percent in December 2021, according to the Central Agency for Public Mobilization and Statistics.

This rise in the inflation rate came due to the significant decline in the value of the Egyptian pound, as Egypt devalued its local currency twice in the year 2022, specifically in the months of March and October, and later in early January 2023 after obtaining the first tranche of the International Monetary Fund loan.

The Egyptian pound has lost 88 percent of its value against the US dollar since the beginning of January 2022, as the dollar recorded about 15.75 Egyptian pounds on January 1, 2022, while it is currently registered with the Central Bank of Egypt at 29.61 pounds.

Ezz added to Xinhua that President Abdel-Fattah El-Sisi directed the early opening of the Welcome Ramadan exhibitions, in which we offer discounts from 25% to 30% on basic commodities of interest to citizens through outlets in all governorates, and this is in order to help the citizen not only In the month of Ramadan, but in the transitional phase that we are currently going through.

He pointed out that the "Welcome Ramadan" exhibitions did not start in Cairo yet, as we started with the remote governorates first, such as Aswan, Luxor, the Red Sea, and some delta regions, in order to experiment with supply chains.

And the Secretary-General of the Federation of Chambers of Commerce continued that, as of January 15, the “Welcome Ramadan” exhibitions will be held in all governorates, and each governorate will have more than one outlet, and we aim to open 200 outlets nationwide.

He stressed that the goods are available in the exhibitions at prices lower than their counterparts in the market and of the same quality, and we agreed with manufacturers and importers that the goods be sold at discounts of up to 30%.

Ezz explained that these exhibitions are implemented in partnership between the government and the private sector for the sake of the citizen and alleviating the burden on him.
A few days ago, the Minister of Supply and Internal Trade, Ali Al-Moselhi, inaugurated the "Welcome Ramadan" exhibition in Shubra, Qalyubia Governorate, north of Cairo.

Madiha Metwally, a housewife in her fifties, was walking around the fair to buy her family's needs.

The Egyptian woman told Xinhua that prices have risen insanely in recent months due to the Ukrainian war and the dollar crisis in Egypt, in addition to the great greed of merchants.

She added that the high prices affected her family's food needs, as she had to reduce the purchase of some commodities such as meat and poultry.

She believed that the holding of commodity exhibitions is a good thing that helps citizens to face the high prices, noting that she bought the household needs of basic commodities at a lower price than market prices, such as sugar, rice, oil, and others.

Reham Ahmed, who is in her thirties and works in a clothing factory, shared her opinion, saying that commodity exhibitions help citizens to face high prices, especially as they offer great offers and discounts.

However, Reham called on the government to intervene more in order to control commodity prices.

She told Xinhua that the high prices have a negative impact on my family, and we have become difficult to secure our basic needs, and we no longer go out for walks or save any money as before.

As for Imad Abdel-Fattah, 48, an accountant in a private company, he said that the “Welcome Ramadan” exhibitions are very important at this time because of the very high prices in the traditional markets.