May 20 – Al-Shorouk Economic Bulletin: Egypt aims to increase wheat-planted areas to 5 million tonnes within 3 years



Prepared by Amira Asi:


Posted on: Friday, 20 May 2022 – 18:06 | Last updated: Friday 20 May 2022 – 18:06

“Al-Shorouk” presents to you the five in the evening bulletin, which deals with the most important news of the economy and the financial and business community that took place throughout the day.

Al-Shorouk Economic Bulletin monitors the most important economic news today, Friday, May 20, 2022, which came to the fore:

Egypt aims to increase the areas planted to wheat to 3 million tonnes within 3 years
Reda Mohamed, head of the National Wheat Program and head of the Field Crops Institute, revealed that the volume of Egypt’s wheat production now stands at 45% to 50%, pointing out that the state aims for a 65% % to 70% increase in wheat productivity within the next 3 years, and the state’s plan is based on Increasing wheat production to increase the cultivated areas wheat to 5 million feddans; Instead of 3.6 million feddans now, increasing production to 15 million tons of wheat, thus achieving 70% of wheat self-sufficiency.
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Minister of Finance: A presidential mandate to maximize efforts to transform the digital economy
Minister of Finance, Dr. Mohamed Maait, confirmed that there is a presidential mandate to maximize efforts to transform the digital economy in conjunction with the move to the new administrative capital. By expanding technological solutions to facilitate procedures, stimulate investment and improve management, it came during its meeting with representatives of the international company PricewaterhouseCoopers on the sidelines of its participation in the work of the trade mission “BEBA”.
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Al-Mashat meets with investors and representatives of British companies to promote development plans
Rania Al-Mashat, Minister for International Cooperation, held bilateral meetings with a number of investors and representatives of British companies and financial institutions During her visit to the UK within the activities of the Egyptian Trade Mission, organized by the British Egyptian Association BEBA.
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Russian wheat shipments are on their way to Egypt, Iran, Saudi Arabia, Libya and Algeria
Navigation reports from the US logistics company on the movement of Russian ports during the week to May 18, showed that Russian wheat shipments were on their way to Egypt, Algeria and Libya in North Africa, and Bloomberg Agency indicated that Russian ports wheat to Iran and Saudi shipping. Arabia too.Load shipments of Russian maize to Turkey and shipments of barley and maize to Libya during the same period.
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The environment plans to issue two billion dollars in green bonds
Ali Abu Sunna, CEO of the Agency for Environmental Affairs, confirmed that there is a $ 750 million government offering of green bonds, and that there is a plan we are working on with the Ministry of Finance to reach $ 2 billion to the first commitments to be offered, explaining that the Prime Minister has confirmed that all development projects will be green and environmentally friendly by 2030
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Mohieldin: Investment in human capital is the basis for the progress of nations
Mohieldin, Executive Director of the International Monetary Fund, and the United Nations envoy to fund the Sustainable Development Plan for 2030, said the Corona pandemic was one of the biggest confusers of the world economy, which according to the World Health Ministry has not officially ended. not. Organization, as epidemics are dealt with between denial and neglect of time. Its occurrence, panic and confusion after its occurrence, in addition to the spread of the conspiracy theory about the spread of epidemics and that only science and money can survive it, which suggests that to deal with the confusion of the times, it is necessary to to invest in human capital and infrastructure.
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Nearly 2.2 million tonnes of local wheat received from farmers so far
An official source at the Ministry of Supply said that wheat stock rates have risen to almost 2.2 million tonnes of local wheat from farmers so far, noting that the payment of farmers’ fees is done immediately to encourage farmers to continue with supply operations during the coming period, as the payment process does not take 48 hours.
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Gold lost 15 pounds, and 21 carats recorded 1055 pounds
Gold prices fell by about 15 pounds in local goldsmith markets, at the start of trading today, Friday, bringing the price of a 21-carat gram best-selling in Egypt to about 1055 pounds, compared to 1070 pound at the end of trading yesterday. , and the price of a gram of 18 carat gold dropped to about 901 pounds and recorded The price of a gram of 24 carat recorded 1209 pounds, and the price of the gold pound dropped by 120 pounds to about. £ 8,440, according to Naguib Club, the former secretary-general of the Gold Works division in the Cairo Chamber of Commerce.

Low prices of rice, sugar and eggs
Hazem Al-Menoufi, a member of the Food Division of the General Federation of Chambers of Commerce, said the price of a ton of rice fell by 1450 pounds per ton, and the price of sugar fell by 100 pounds per ton to reach 11. thousand pounds instead of 11100 pounds per ton, in addition to a decrease in the price of municipal eggs by 4 EGP to 50 EGP The farm price reaches 55 EGP for the consumer.
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Handles 9657 tons of general and miscellaneous goods in the Red Sea ports
Over the past 24 hours, the Red Sea ports have seen the circulation of 9,657 tons of various general goods, 462 trucks and 81 owners’ cars. The navigation movement in the Government recorded the arrival and travel of 9 ships, and the total number ships located at the berths reached 18 ships. The Authority’s ports recorded the arrival and journey of 760 passengers in its ports. The movement of exports in the ports of the government has the circulation of 6593 tons of general and various goods, 245 trucks, and 29 owners ‘cars, and the movement of imports has 3064 tons of general and miscellaneous goods, 217 trucks and 29 owners’ cars reach.
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