On the horizon
The House of Representatives’ Health Committee will meet in August to discuss a possible second round of med price increases for 2017, according to Al Borsa. MPs will review Health Ministry report on pricing that has yet to be made public and that is believed to recommend raising the prices of some 1,320 meds out of 1,400 studied. The Health Ministry had promised industry it would consider a second hike in med prices in August after the rise it permitted in January. Health Minister Ahmed Rady had said earlier this month that prices will not rise again this year.
Egypt’s freetrade agreement with Mercosur countries will come into effect in a month. This comes after Argentina notified the group that it has ratified the pact, Argentina’s Production Ministry said, Reuters reports. The agreement covers food, cars, auto parts, and industrial supplies. It is set to eliminate tariffs on 60% of Argentina’s exports, in addition to reducing tariffs for other products over 10 years. It will also lift fees on Argentina’s imports of Egyptian beef, pears, apples, cars, and auto parts.