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English news

17-Apr-2018

Gov’t targets shifting subsidy beneficiaries

The government is expected to change its current scheme of subsidy beneficiaries as it targets reducing the number of subsidised commodities beneficiaries and raising the number of those eligible for bread subsidies during FY18-19. According to reports on the government’s preliminary budget for the upcoming fiscal year, subsidised bread recipients are expected to rise to 78.6mn citizens, up from 76.8mn this year, while the number of benefactors for subsidised commodities will drop to 69mn individuals from the current 71mn. Overall spending on commodity subsidies is expected to rise 36.6% next year to EGP86.18bn.
 

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