In order to support the strategic reserve of basic commodities in the nation, $1. 8 billion was provided, according to Ali Al-Moselhi, Minister of Supply and Internal Trade, who also noted that “when the Corona pandemic appeared, it affected the logistics represented in transport operations, boats, and planes.”
The author emphasises that without our reserves, our position would have been challenging during that time owing to the Corona crisis: ” Which halted within a month from the commencement of the epidemic.
In an interview with one of the regional news outlets, Al-Moselhi claimed that President Abdel Fattah Al-Sisi had issued directives before the Corona Crisis to increase the reserve of strategic commodities, particularly wheat, to six months from three months and to provide the necessary financial credits for this. It came about as a result of the Russian-Ukrainian crisis and the Corona pandemic.
The Minister of Supply responded to a query regarding the stability of bread prices in the supply despite the global increase by stating that the value of the subsidised loaf of bread at a value of 5 piasters has been preserved and that the annual budget for bread subsidies is 51 billion pounds, noting that the general average of the increase is based on the increase in local wheat. The state has cost 5. up to this point.
5 billion pounds, and the state has spent 16 billion pounds—nearly 22 billion pounds more than anticipated—due to the rise in the price of imported wheat. They also noted that bread subsidies may reach 73 billion pounds this year, while emphasising that the price of bread has not increased.
Egypt has enough wheat in storage, the minister of supplies emphasised, to last for six months.
The objective is for a reserve of 6 months, it is emphasised, and this did not happen at any moment.
Urgent.. a comment about the catering’s decision to increase the bread loaf
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