Presidential Decree Increases Tariffs on Imported Ice Cream and Pencils

A presidential decree issued yesterday has raised tariffs on "luxury imports", which include cosmetics, stationary, electronics, and certain fruits, for the second time this year, reports Ahram Online. 

Imports such as pineapple, guavas, mangoes, and oranges, and food products like cocoa, biscuits, and ice cream, as well as certain hair products, deodorants, facial masks, pens, pencils, and receivers, will now see another 40 to 60 percent tariff increase, after an earlier 30 to 40 percent hike in January.

This comes as the Egyptian government continues with its economic reform plan to cut the country's budget deficit and raise its foreign reserves, which has included the flotation of the pound, the gradual elimination of subsidies, and tax increases. 

(Photo by Manu Brabo/AP)