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Health Ministry Raises Domestically Produced Medicine Prices By 20 Percent

As the Egyptian pound threatens to devaluate again, the Minister of Health hopes to promote local manufacturing of medicine.

The Associated Press reports that Health Minister Ahmed Emad has declared that domestically manufactured medications will be made more expensive by 20 percent.

Citing high costs of production which has forced several local manufacturers to shut down, the Health Ministry, which controls medicine prices, says they hope the decision will encourage Egyptian producers to stay in business. 

Currently, according to the ministry, 4,000 different medications are no longer found in Egypt because the cost of production exceeds the price.