Finance Minister Mohamed Maait said Tuesday that the government gave priority to cater for the citizens’ basic needs in line with the presidential directives on this score.

Engaging in an open dialogue with reporters on Tuesday, the minister said the strategic wheat reserve is sufficient for eight months, expressing the State’s keenness on finding alternative international markets for wheat amid the current world economic situation.

“We are committed to submit the new draft budget to the House of Representatives during this month, taking into account the substantial rise in the global prices of energy and basic commodities,” the minister further noted.

He added that the International Monetary Fund (IMF) issued a report on the economic impact of the Ukrainian-Russian crises that led to inflationary pressures arising from supply chain disruptions and the sharp rise in freight costs and global prices of goods and services.

Earlier, Supply Minister Ali el Moselhi said that farmers are expected to supply 5.5 million tons of local wheat during the next season, which will start in mid-April.

Source: State Information Service Egypt