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Egypt Allocates 16 Billion Pounds in Budget to Buy Wheat

Egypt allocated 16 billion Egyptian pounds ($2.65 billion) in the new budget that starts in July to finance purchasing wheat from domestic growers and imported grain, Finance Minister Momtaz el-Saieed said today in an e- mailed statement.

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

To contact the editor responsible for this story: Andrew J. Barden in Dubai at barden@bloomberg.net

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