Madbouly directs government to study 20% increase in essential commodity reserves

Reuters/REUTERS

The government intends to initiate an action plan to secure enough strategic reserve of key commodities with the aim of controlling markets, Madbouly said

Staff Writer, Arab Finance

March 25, 2024

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Prime Minister Mostafa Madbouly has directed the government to study increasing the strategic reserve of essential commodities by about 20%, as per a cabinet statement on March 24th.

The government intends to initiate an action plan to secure enough strategic reserve of key commodities with the aim of controlling markets, Madbouly said.

The Egyptian premier stressed that the government does not work against the private sector; however, it must intervene to control markets, especially in times of crisis.

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