Egyptians offered loans to buy books as inflation soars

Egyptians offered loans to buy books as inflation soars

- Published

Egyptians are used to paying for costly items such as cars or washing machines in instalments, but rocketing inflation means they can now buy books this way.

"A book has become a luxury item here in Egypt. It's not a basic commodity like food and people are saving on luxuries," says Mohammed El-Baaly of Sefsafa Publishing House.

He was speaking as the Cairo International Book Fair, which last year attracted two million people, opens to the public.

With book prices more than doubling, some Egyptian authors say they have cut back on characters and descriptions to be more economical in their writing.

"The cost of paper and ink has gone up tremendously," Mr El-Baaly says. "The cost of a tonne of paper is now nearly four times higher than at the start of the year!"

He says he has turned to printing books overseas and is producing fewer copies, as he expects falling demand.

It was the fear of a drop in numbers of shoppers at this year's book fair - the oldest and largest of its kind in the Arab world and a major event for the publishing industry - which led to the idea of paying in instalments.

The Egyptian Publishers Association says customers