Food products' prices expected to be stable in local market

Egypt's Chamber of Food Industries Chairman Ahsraf el Gazairi said the prices of food products will be stable in local market in the coming period.

In statements to MENA on Wednesday on the fringe of Gulfood 2018, he hailed a recent decision by the Central Bank of Egypt on downing the interest rate as contributing to stabilizing prices and boosting investments in the industrial sectors.

Gulfood is the world's largest annual food trade show, its 23rd edition taking place in Dubai on Feb 18-22, 2018.

He said the food sector's investments hit LE 500 billion in 2017.

The sector's growth rate is expected to range between 8 to 10 percent in 2018, he said.