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Egypt Launches Development Projects to Overcome Ukrainian War Impact

Egypt Launches Development Projects to Overcome Ukrainian War Impact

Tuesday, 14 June, 2022 - 10:00
Egypt’s President Abdel Fattah al-Sisi (Asharq Al-Awsat)

The Egyptian government seeks to overcome the impacts of the Russian-Ukrainian war, that led to a surge in inflation rates globally, through various development projects.

President Abdel Fattah al-Sisi inaugurated on Monday the integrated animal, dairy production complex and mechanized slaughterhouses in Sadat City in Menoufia Governorate.

He affirmed in his opening remarks that Cairo is exerting great efforts to control the prices.

The complex can house up to 5,000 dairy cattle with a production capacity of 1.5 tons of beef cattle.

It also includes a scientific center with a veterinary hospital and six sub-farms in addition to two incinerators for safe disposal of biological waste.

It aims at developing livestock resources to achieve the citizens’ needs and provide job opportunities.

The measures taken by the Egyptian government over the past years have contributed to “raising” the growth rates of livestock production, Sisi explained.

He underscored the importance of increasing production rates in various fields to achieve self-sufficiency and export the surplus while benefiting from the agricultural lands to control production costs in light of population growth and surge in global prices.

Sisi further pointed out that prices in Egypt should have been much higher than their current rates.

However, he said the state is keen on maintaining stable fuel and energy prices, noting that it has postponed a scheduled increase in electricity prices several times to alleviate the burden on citizens.

He called on the private sector to take part in the field of livestock production, given its better work mechanisms and capacities.

The Egyptian President said that inflation rates have risen dramatically in European and Western countries as a result of the Russian-Ukrainian war, noting their huge potential and stable population rate.

According to recent data by the country’s Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s annual urban consumer inflation accelerated to a slower-than-expected 13.5% year-on-year in May, the highest since March 2019.

This rate comes in light of rising commodity and fuel prices around the world.

Among the world's biggest wheat importers, Egypt is heavily reliant on shipments from Ukraine and Russia, and its government has been seeking alternative supplies from countries including India and France.

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