Egypt's govt denies rise in basic commodities' prices

Egypt's cabinet dismissed on Thursday news reports about hiking prices of basic commodities due to a shortage in the supply of goods at markets.

In a statement issued Thursday, the cabinet media center said it contacted the Ministry of Supply and Internal Trade over the matter and received assurances that the nation's strategic stock of basic goods is sufficient for six months.

All prices of essential goods are stable, it said, citing the government's tightened surveillance and monitoring grip on markets as well as constant inspection campaigns to ensure that price controls are in place.

The government has succeeded to ensure securing the country’s strategic reserves of basic commodities for more than three month in the wake of the outbreak of the novel coronavirus, according to the statement.