Rising wheat, oil prices put pressure on Egypt's economy: minister

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Rising wheat, oil prices put pressure on Egypt's economy: minister

TORY: Rising wheat, oil prices put pressure on Egypt's economy: minister DATELINE: July 6, 2022 LENGTH: 00:01:44 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egypt's Finance Ministry 2. Egyptian Finance Minister Mohamed Maait 3. various of wheat being unloaded 4. various of a gasoline station STORYLINE: The continuous rises in the prices of imported wheat and oil have posed a burden on Egypt's finance and budget, Egyptian Finance Minister Mohamed Maait said on Monday. In a recent interview on local TV, the minister said the country is one of the world's largest wheat importers, buying 12 million tonnes of wheat annually. The minister noted that the government has kept a relatively lower price for wheat in Egypt, creating a price difference between the domestic and international markets, which puts the country's budget under great pressure. In addition, Maait said Egypt also faces financial pressure from the high oil price, adding that the country imported around 120 million barrels

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