DUBAI (Reuters) – Global rise in wheat prices will cost Egypt between 12 to 15 billion EGP ($763-$954 million) more in its current fiscal budget than previously planned, finance minister Mohamed Maiit told Asharq news on Sunday.
Egypt is often the world’s top importer of wheat. Russia’s invasion of Ukraine has left Egypt’s wheat import prospects in turmoil.
($1 = 15.7250 Egyptian pounds)
(Reporting by Shakeel Ahmad; Writing by Riham Alkousaa; Editing by Elaine Hardcastle)
