Car prices in Egypt to increase within near future ...Egypt

The head of the Egyptian Automotive Dealers Association Osama Aboul-Magd said that Egypt will witness increasing car prices within the near future. He explained that the reasons for the increase are due to the various economic and political crises worldwide, including the coronavirus pandemic, but assured there are solutions and Egypt can learn from the experience of other nations in managing this issue, such as Morocco. During a telephone interview with Etc TV channel on Tuesday, Aboul-Magd said that the state is carefully handling the issue due to how large and sensitive the car sector is. The Federal Reserve’s decision to raise interest rates by 0.5 percent caused new car prices to rise f

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