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Egyptian President Abdel Fattah El-Sisi said on Saturday that his country’s resources are not large enough to allow it to face challenges “without effort and endurance.”
Al-Sisi added, in a speech during his inauguration via video conference technology, of a number of development projects in the South Valley, that Egypt consumes 18 million tons of wheat annually, including at least 10 million to 12 million tons for bread production.
He pointed out that Egypt cannot yet cover its wheat needs from local production, and is therefore forced to import from abroad.
The Egyptian President explained that a loaf of bread costs the state 1.25 pounds, while the government subsidizes bread for 130 billion pounds.
The Egyptian President stressed that his country is not yet able to cover its needs from local wheat production, and is therefore forced to import from abroad.
He stated that his country consumes 18 million tons of wheat annually, including at least 10 million to 12 million tons for bread production, which he said the government supports with 130 billion pounds (about 2.8 billion dollars), while a loaf of bread costs the state 1.25 pounds.
He also pointed out that citizens pay half the real price of fuel in light of state support, and that if the government had collected the real price of the cost of electricity, it would have doubled the consumption price twice.
He continued: “We can operate electricity 24 hours a day. The stations are there and we can, but in order for the Minister of Electricity to obtain the necessary fuel for it, he must pay his bill (to the Ministry of Petroleum).”
He pointed out that the Ministry of Electricity is eventually forced to operate the stations with the fuel it has available in light of its debt to the Ministry of Petroleum, adding: “But is it possible to operate (electricity) 24 hours a day? Yes… but by how much?
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