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English news

18-Jan-2016

Raising dollar deposit cap is unlikely during current period, Investment Minister says

Raising the cap on dollar deposits is unlikely during the current period as it was not issued in the Coordinating Council agenda, Minister of Investment Ashraf Salman, who is also a member at the Coordinating Council for fiscal and monetary policies, said. Salman said regulating the import process is a priority for the coordinating council, which will mandate those factories that export to Egypt to register at the Egyptian Exports and Imports Supervisory Authority. Meanwhile, a source at the Ministry of Foreign Trade estimated imports received which do not comply with international requirements and standards reached USD9 billion out of a total import bill of USD80 billion. (Daily News Egypt)

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