Egypt allocates $201mln for medical supplies, pharmaceuticals

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Egypt - The Egyptian government is taking significant steps to meet its financial obligations to pharmaceutical and medical supply companies by allocating EGP 10 billion, Minister of Finance Ahmed Kouchouk announced.

The minister highlighted that EGP 4 billion has already been secured, with an additional EGP 3 billion to be provided next week, and another EGP 3 billion the week after.

This step aims to settle a large portion of dues owed to these companies, ensuring an increased supply of medicines and stabilizing the pharmaceutical market.

The announcement came during a meeting with Prime Minister Mostafa Madbouly to discuss plans to reform the property tax system and improve customs procedures.

Additionally, the meeting addressed Egypt’s ongoing financial commitments to Russia regarding the Dabaa nuclear power plant.

The government reaffirmed its commitment to timely payments, with Russian officials expressing appreciation for Egypt’s dedication to the project.