Egyptian President Abdel Fattah al-Sisi assured Wednesday that all basic commodities are available within the Egyptian state.
“There is no problem, thank Allah, with any basic commodity. Our stuff are present and increased, and this is the grace from Allah to us. This is thanks to state effort and your effort. The issue of silos is an example… Butane warehouses,” Sisi said.
Sisi’s statements came during the celebration of Mother’s Day in Egypt.
The ceremony was attended by Prime Minister Mostafa Madbouly, Minister of Planning and Economic Development Hala al-Saeed, Minister of Social Solidarity Neivin el-Kabbag, and some ministers and senior statesmen.
Egypt witnessed repeated hikes in food stuff and other commodities during the past period, attributed by experts to disruption of supply chains due to Russia’s war on Ukraine and global inflation in the wake of the coronavirus pandemic.
Sisi ordered the government on Sunday to immediately prepare a package of financial and social protection measures to mitigate the effects of global economic repercussions on the citizen.
Egyptian Finance Minister Mohamed Maait announced Monday that measures worth LE130 billion have been prepared to deal with the repercussions of global economic challenges and mitigate their effects on citizens.
In a statement, the minister said that LE2.7 billion will be allocated to include 450,000 new families in “Takaful and Karama” program.
The ministry is further allocating LE190.5 billion to the National Authority for Social Insurance to disburse the annual increase for pensions by 13 percent, with a minimum of LE120, starting from the beginning of April, and increasing the tax exemption limit by 25 percent from LE24,000 to LE30,000.