Egyptian Prime Minister Ahmed Nazif blamed the recent increase in vegetable prices and a resultant rise in inflation on spoiled crops due to inclement weather, saying the increase is only a seasonal phenomenon.
The price hikes are beyond the control of the government, said Nazif, who added that government policy seeks to protect limited income households in the long term through commodity subsidies.
Nazif delivered the statements at the inauguration of a large commercial complex in Qalyubiya. Ministers of trade, agriculture, social solidarity, local development and environment also attended the event.
Nazif said bolstering internal trade was a government priority. He added that state policy aims to curb monopolistic practice and foster a more direct producer-consumer relationship through the establishment of large markets and malls. These shopping centers should be the best way to determine fair prices that offer a reasonable profit margin for the producer, according to Nazif.
Translated from the Arabic Edition.
