Egypt - ANOTHER ROUND OF RAISING IMPORTATION TARIFFS
​In another step to curb dollar drain and enhance the position of the government’s budget and Balance of Payment, a new decision - adding to a series of recently taken ones - was taken by the country’s president Abdel Fattah El Sisi to raise importation tariffs on selected imports (mainly luxurious) ranging between 20% to 60%. The decision was published by the end of last week by the Egyptian Gazette mentioning around 320 of imported products are to be abided by the decision starting from the 1st of December 2016. Worth noting that it is the second time in 2016 for tariffs to be raised after being raised by the beginning of February 2016 by the range of 20%-40%.
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