Egypt electrical-appliance chief refutes "60% recession," says prices rose 5% on steel duties

Ashraf Hilal, head of the Electrical Appliances Division, said sales fell 25–30% since September and anti-dumping duties raised appliance prices by 5%.

• Hilal said claims of a 60% market recession were inaccurate, with sales down 25–30% since September and overall recession possibly reaching 40%.
• He said a 16% anti-dumping duty on steel sheet, which supplies about 80% of appliance production, raised appliance prices by roughly 5%.
• Hilal said reports of widespread layoffs were exaggerated, noting some departures were students ending summer training programs.
• He said he could not confirm reported sector bank debt of 50 billion Egyptian pounds, with some companies negotiating loan rescheduling.