Supply and Internal Trade Minister Ali Moslehi dismissed on Sunday as rumors reports that Egypt plans to cancel subsidy as part of underway negotiations with the International Monetary Fund (IMF).
The minister stressed that food security is a top priority for Egypt and that the country spares no effort to provide the needed hard currency to buy basic commodities.
Egypt would not have been able to bear the current global crises without the help of the economic reform program the country adopted over the past few years, he said.
He added that the State intensified social protection programs to ease economic strains prompted by global inflation that hit more than 7 percent for the first time in 40 years.
Source: State Information Service Egypt