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Egypt’s cabinet extends consumer spending initiative

Egypt’s cabinet extends consumer spending initiative
The initiative helped retailers achieve average daily sales of EGP 20.3 million

Cairo – Mubasher: Egypt’s cabinet approved several decisions on Wednesday, including extending the local consumer spending initiative and approving an amendment to the draft law on living aquatic wealth protection.

The government decided to extend the presidential initiative for consumer spending, originally scheduled to end on 26 October, for an additional month to maximise its positive impact on economy, according to a statement.

From 26 July to 16 October, the initiative helped retailers and factories achieve average daily sales of EGP 20.3 million.

Moreover, the cabinet also approved the presidential draft decree regarding the charter of East Mediterranean Gas Forum (EMGF) which has been founded as an international governmental organisation aiming at enhancing cooperation for the optimal use of natural resources in the region.

Additionally, an amendment to the draft law on living aquatic wealth protection has also been approved.