Russian-Ukrainian war adds over $1bln to Egypt’s bread subsidy bill

Reuters Images

Egypt is seeking to increase the total area of lands cultivated with wheat in the coming period

Staff Writer, Arab Finance

October 11, 2022

PHOTO

The Russian-Ukrainian war has added EGP 24 billion in additional costs to Egypt’s bread subsidies, Gomhuria Online reported on October 9th, citing Minister of Supply and Internal Trade Ahi El-Moselhi.

El-Moselhi called for the formation of a joint parliamentary committee among the committees of agriculture, economics, and social solidarity to discuss upgrading the efficiency of bread subsidies.

Egypt is seeking to increase the total area of lands cultivated with wheat in the coming period, El-Moselhi noted, adding that the country is consuming around 18 million tons of wheat annually and produces up to 10 million tons.

El-Moselhi stated that one million feddans of wheat would be added to the total cultivated area in the coming period.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.