Cairo – Mubasher: Egypt has spent EGP 1.3 trillion on subsidies and social welfare in five years starting from fiscal year 2014/2015 through fiscal year 2018/2019, the cabinet’s media centre revealed on Wednesday.
Spending on supply commodities reached EGP 296.3 billion, while petroleum product and electricity subsidies totalled EGP 449.8 billion and EGP 124.3 billion, respectively, during the five-year period ended 30 June.
Moreover, contributions to pension funds amounted to EGP 243.9 billion, whereas spending on state-funded medical treatment registered EGP 16.1 billion.
In addition, subsidies directed to ‘Takaful and Karama’ (solidarity and dignity) programme, launched in March 2015, recorded EGP 31 billion.
Furthermore, subsidies to social welfare programmes, economic activities, and other sectors amounted to EGP 37.4 billion, EGP 41.4 billion, and EGP 93.8 billion, respectively.
