Madbouly directs gradual customs release of goods at ports in Egypt

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Prime Minister Mostafa Madbouly has directed the government to set a plan

Staff Writer, Arab Finance

February 26, 2024

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Prime Minister Mostafa Madbouly has directed the government to set a plan for the gradual customs release of goods at ports, as per a statement.

Madbouly stated that top priority would be given to food commodities, medicines, and fodder, which are valued at $1.3 billion.

This came during a meeting held with several officials to follow up on the provision of the needed financing in foreign currency for strategic goods and medicines.

The meeting also tackled the provision of funding in foreign currency to ensure the availability of essential commodities, especially wheat, cooking oil, and powdered milk.

It also touched upon the possibility of increasing wheat procurement price per ardeb to support farmers amid the soaring inflation rates.

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