Egyptians Brought Home Over 300 Kilograms of Gold From Abroad

Egyptian travellers imported 300 kilograms of duty-free gold into the country between May 11th and June 22nd, according to a statement from the Egyptian Customs Authority.

As per a decree issued by the Prime Minister on May 10th, citizens returning to Egypt from abroad are able to bring in up to 150 grams of gold without paying customs fees until November 2023. The ruling provides an exemption from customs duties and other fees, excluding value-added tax, for gold artefacts intended for monetary circulation, as well as ornaments and jewellery.

The decision aims to stabilise gold prices in the Egyptian market.