Egyptian imports of mobile phones witnessed a significant decline by the end of 2020. Government data showed that imports of cell phones during the first 10 months of the year (January-October) fell by EGP 11,920,000,000.
According to the Central Agency for Public Mobilization and Statistics CAPMAS, the volume of the monthly decline in mobile phone imports came as follows:
In January, the decline was about $121769.
In February, the decline amounted to $14568000.
in March, the decline amounted to $73925000.
In April, the decline amounted to $47 million.
In May, the decline amounted to 92 million and $379000.
In June, the decline amounted to $3417200.
In July, the decline amounted to $18327900.
In August, the decline amounted to $80335000.
In October, the decline amounted to $97596000.
Egypt’s annual consumer price inflation ratio declined to 5.1 percent in 2020, compared to 8.5 percent in 2019, according to CAPMAS`s report on Sunday.
The report added that the inflation rate hit 6 percent in December 2020, compared to 6.8 percent in the same month of the previous year.
The CAPMAS noted that the inflation rate recorded 110.6 points in December 2020, marking a decrease of 0.5 percent compared to November 2020.
It attributed the decline in inflation rates to the decrease in prices of some commodities during the month, as the vegetable group by 10.1 percent, the fish and seafood group by 0.6 percent, the meat, and poultry group by 0.2 percent, the milk, cheese, and eggs by 0.1 percent, and the ready-made clothes by 0.6 percent.
Egypt’s 2020/2021 draft budget aims to reduce the public debt of GDP to 82.7 percent by end of June 2021, up from the earlier target of 82.5 percent by the end of June 2020 and to 77.5 percent by the end of June 2022.
