Momtaz El Saeed, Minister of Finance, allocated EGP one billion to the Ministry of Supply and Internal Trade to pay their dues to the wheat farmers in return for the delivered amount of wheat. The Ministry allocated a total amount of EGP 4.5 billion towards local wheat purchases since the beginning of the wheat harvest season.
El Saeed affirmed that the Ministry is focused on providing the required finance for general and economical bodies and agencies so as to be able to provide strategic and basic goods for people, support productive sectors, and accordingly national economy.
The Ministry gives the basic goods and requirements priority in the general expenditures strategy so as to avert a pressure on the government- subsidized goods.
It is worth mentioning that Ministry of Finance approved last Tuesday offering US$ 100 million to the Egyptian General Petroleum Corporation to finance importing the required petroleum products. The Ministry allocated a total amount of US$ 4.2 billion (=EGP 25.2 billion) to the Egyptian General Petroleum Corporation.
