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$1.8 bln allocated for upping strategic reserves of basic commodity

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Egyptian Gazette
Home Egypt

$1.8 bln allocated for upping strategic reserves of basic commodity

by Gazette Staff
February 9, 2023
in Egypt, Business
$1.8 bln allocated for upping strategic reserves of basic commodity 11 - Egyptian Gazette
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SADAT CITY – Egyptian Supply Minister Ali el-Moselhi asserted that, at the directives of President Abdel Fattah El Sisi, a comprehensive strategy was implemented for securing the basic commodities before the international crisis occurrence, adding that $1.8 billion was approved to increase the level of strategic reserves of basic commodities.

This came during the inauguration of the 2nd stage of Silo Foods Industries in Sadat City on Thursday.

The concept of food security has become a cornerstone for national security as well as international peace and security, especially after the unprecedented crises that took place around the world, he said.

The strategy depended on three axes, including providing the necessary funding, maintaining a safe level of strategic commodities in Egypt and regulating the distribution system, he said.

Tags: EgyptSilo Foods Industries

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