Passenger car sales dropped by close to 40% year-on-year (YoY), with bus and truck sales also falling by a third
Clearing the backlog will lead to a gradual decline in prices, explained cabinet spokesperson Nader Saad
The PM directed the formation of a joint committee to develop a vision and plan to facilitate procedures and the exit of containers at the ports as quickly as possible.
Egypt and the ITFC signed a similar agreement last year, with the former having directed around $1.5 billion - $800 million for petroleum and $700 million for commodity imports
With this, Egypt has cleared around $13.3 billion worth of commodities since December
