Cairo – Mubasher: Egypt’s subsidies for food commodities and fuel rose by 28.2% year-on-year during the first four months of the current fiscal year.
The government has spent around EGP 22.4 billion on subsidies during the July-October period of this year, versus EGP 17.47 billion in the corresponding period last year, according to a recent report by the Ministry of Finance (MOF).
Food subsidies recorded EGP 15.7 billion in the four-month period, versus EGP 13.65 billion in the same period a year earlier, the report added.
Meanwhile, fuel subsidies registered EGP 6.7 billion at the end of October, versus EGP 3.82 billion in the year-ago period.
Additionally, total spending on subsidies, grants, and social merits amounted to EGP 6.83 billion, versus EGP 53.82 billion in the same four-month period of 2017.
