CAIRO, Feb 26 (MENA) - Finance Minister Ahmed Kouchouk said six billion pounds were allocated as an additional funding to support wheat farmers.

The government particularly focuses on increasing wheat yield, and setting a minimum rate for purchasing cotton from farmers, the minister added during a news conference held by Prime Minister Mostafa Madbouli following the cabinet's weekly meeting on Wednesday.

He noted that EGP 2 billion were also earmarked to support cotton farmers, adding that another sum will be announced soon.

Highlighting the government’s efforts to support local farmers, the minister noted that the government had also increased the prices of some crops, while providing cash support for cultivating these crops.

For instance, the procurement price for locally produced wheat was increased to 2,000 EGP/ardeb, the minister said.

This is a profitable price for farmers, as it exceeds international rates, the minister added during the news briefing, held to reveal the details of a government social protection package, scheduled to be rolled out early next month. (MENA)

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