Arab Finance: Fitch Solutions expected the growth rate of Egyptians’ spending on food to slow down to 9.8% in 2022 from 11.5% in the last two years, Asharq business reported on May 8th.

Egyptians are projected to spend EGP 816 billion on food in 2022, while spending on non-alcoholic and alcoholic beverages is set to reach EGP 33.7 billion and EGP 93 billion, respectively.

Spending on clothes and footwear is expected to record EGP 134.6 billion in 2022, according to data by Fitch Solutions.

By the end of the year, Egyptian citizens are likely to spend EGP 44.8 billion on tobacco and EGP 58 billion on home appliances and furniture.

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