Cairo – Mubasher: The Egyptian government is not planning to lift bread subsidy, the finance minister said.
A loaf of bread costs 65 piasters, while the citizen affords only 5 piasters, state-run newspaper Al-Ahram reported, citing Mohamed Maait.
Almost 100 billion loaves of bread are annually consumed, which the citizens affords EGP 5 billion, while the government affords EGP 60 billion as a subsidy to owners of bakeries, the minister highlighted.
He pointed out that each and every increase in the individual’s share in the ration card costs the country around EGP 840 million per year, noting that the government has afforded over EGP 24 billion for the last raise in budget.
The Egyptian Prime Minister Mostafa Madbouli announced last week that the government would introduce the two-child policy in January 2019 as part of the payment of government subsidies.
This decision would allow the government to add new families to the government subsidies system, Madbouli said.
