Most Imported Goods Not to Be Affected by Customs Dollar Rise- Specialist

Economist Karim El Omda said that the customs dollar is the weight of which the customs are set on imported goods.

El Omda added during a call-in on Sada el-Balad TV that the increase in the customs dollar is only related to customs and not to basic goods, pointing out that the customs dollar is a weight standard that calculates the customs on imported goods.

He noted that Egypt has free trade agreements with several blocks which allows the country to import with zero customs, adding that the customs would only increase from 2-3%.

The sectors which would experience a rise in prices due to the hike in the customs dollar are luxurious goods, cosmetics, vehicles, leather, imported fruits, and vegetables.

"Egypt signed free trade agreements with Sudan, and thus there won't rise in the prices of imported meat, which would enter the country without customs, stressing the necessity of applying control on the market to prevent price hikes.”