Egypt aims to reduce import bill by 25% in 2016, CBE Governor says
Egypt aims to reduce its import bill by 25% in 2016 compared to the previous year after the Central Bank had imposed sweeping new import controls last month, its governor told Reuters. "We are aiming to reduce imports by USD20 billion in 2016, down from USD80 billion in 2015," Central Bank Governor Tarek Amer told Reuters late on Wednesday. Amer said the import controls aimed to "boost local production and regulate monetary chaos to stabilise prices and inflation levels." (Reuters)
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