Egypt allocates USD202M to ensure availability of medicines, medical supplies before end of 2024
Date
12/2/2024 1:39:59 AM
(MENAFN) Egypt has allocated EGP 10 billion (USD 202 million) to enhance its health sector by ensuring the availability of medicines and medical supplies before the end of the year. Ahmed Kouchouk, the Minister of Finance, stated that this funding aims to support supply companies and ensure regular delivery of medical supplies to hospitals. The initiative is expected to improve healthcare services offered to citizens, addressing pressing challenges in the sector.
In a meeting held on Saturday and chaired by Prime Minister Dr. Mostafa Madbouly, discussions focused on securing the necessary funds to settle dues owed to pharmaceutical and medical supplies companies. The meeting, attended by the Ministers of Finance and Health, emphasized the importance of promptly implementing financial allocations to maintain supply continuity. Additionally, the government plans to prepare a comprehensive strategy to build a strategic stockpile of medicines, ensuring their availability in local markets.
Egypt's pharmaceutical sector has faced repeated crises in 2023 due to challenges such as the rising value of the US dollar and difficulties in importing raw materials essential for drug production. These issues have disrupted the steady supply of medicines and medical supplies, creating significant challenges for healthcare providers and patients alike.
In response to these challenges, the government has taken steps over the past two months to stabilize the market. Measures include adjusting the prices of certain medicines to ensure ongoing production and addressing supply shortages. These efforts aim to alleviate the crisis and secure a more stable healthcare environment in Egypt.
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