Egyptians substituting imports with local products

Egyptians are “ditching imports” and substituting local products, Asma Alsharif and Mohamed Zaki write for Reuters. They mention the story of a local chocolate manufacturer “struggling” to keep up with demand since the EGP float. Unofficial figures suggest the weaker EGP is also supporting exporters and Alsharif and Zaki support the story with anecdotal evidence. "This is a golden opportunity for Egyptian producers … Local producers used to be unable to compete but now is the right time to go in to compete against imported goods due to the price advantage after the [USD] rises,” said Abu Bakr Emam, head of research at financial firm Prime Holding.