The Trade and Industry Ministry is not looking to issue a moratorium on importing some 15 categories of finished goods, minister Tarek Kabil said, denying earlier reports, according to Al Mal. Kabil was responding to suggestions that Egypt had applied for and received approval from the World Trade Organization to implement import restrictions to shave USD 10 bn off its import bill. The move, an unnamed government source had said, would cut out at least 15 categories of “non-essential” goods.

Either way, imports of manufactured goods are plunging, in part due to importers shutting down their businesses as a result of the FX crunch, said Customs Authority chief Magdy Abdel Aziz, Al Borsa. Imports fell 24% in September compared to the previous month, claimed Abdel Aziz, who expects them to fall further by 30% in October, Al Mal reports. Imports are expected to continue falling through year’s end, the newspaper says, noting the Ismail government is ushering the Importers Registry Bill through the House of Representatives. The measure sets an annual minimum import requirement of EGP 2 mn for individuals and EGP 5 mn for companies