Egypt has taken "very important steps" in economic reform over the past 18 months, securing foreign currency for imports and ensuring factories are running at full capacity, Prime Minister Moustafa Madbouly said on Wednesday. Speaking at a press conference in New Alamein, Prime Minister Madbouly said no factory in the country had stopped production due to shortages and that raw materials and inputs were now readily available. But he urged industry groups to pass these gains on to consumers by making permanent price cuts to ease pressure on households. "The ordinary citizen is not concerned with numbers and indicators, but with daily life and the ability to meet basic needs," he said. Prime Minister Madbouly said all industry federations and chambers of commerce will meet next week to present a detailed plan for lowering prices on a wide range of goods, stressing that reductions must be sustainable and not temporary. "Now is the time for prices to drop significantly so that citizens can feel that all the sacrifices they made in the past are bearing fruit," he said. Attribution: Amwal Al Ghad English
