Egypt Increases Wheat-Purchasing Budget by 1 Billion Pounds

Egypt allocated an additional 1 billion Egyptian pounds ($166 million) to fund buying of domestic wheat, Finance Minister Momtaz el-Saieed said.

The ministry allotted about 4.5 billion pounds for purchases of the grain grown locally, el-Saieed said in an e- mailed statement today.

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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