Egypt raises customs on luxury imports

Published March 25, 2013 10:19am ET



CAIRO (AP) — Egypt’s Islamist President Mohammed Morsi hiked customs rates on dozens of “non-essential” imports as part of the government’s efforts to increase revenues to revive the ailing economy.

Morsi’s decree issued late Sunday raises tariffs on a wide range of luxury goods including shrimp, gambling tables, sunglasses, nuts, and fireworks.

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