Esteemed Members of the trade sector
Ladies and Gentlemen,
During 2014, the trade sector has faced a series of challenges that hindered trading activities and threatened their continuity. Despite all the difficult circumstances surrounding the sector, we were able to overcome a lot of obstacles hindering trade activities.
Some government decisions that have been taken to address the growing budget deficit affected negatively most of the private sector, especially the trade sector, and contributed clearly to raising the material cost, many of which were imposed on the prices of goods and services; forming an additional burden on the entry of citizens, yet others were able to adapt to new burdens by restructuring a lot of business activities, so as to limit the losses or to face declining profits.
Besides, the increase of electricity tariff and the government procedures in this regard under the agreement signed with the International Monetary Fund had the greatest impact on increasing costs and burdens on the trade sector, in addition to the official decisions taken in the same period regarding increasing customs duties and taxes imposed on a number of goods and services; all of the above posed a threat to business and trade activities.
The current circumstances require official authorities to reconsider the overall financial decisions that have been taken in the last two years, especially as world oil prices plunged to more than 45% since June 2014, the thing that provides an opportunity for both the public and private sectors to re-evaluate all these procedures and decisions that their causes are no longer exist.
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