Government eying more than EGP86bn food subsidies in FY17/18
The government is targeting food subsidy bill worth more than EGP85.5bn in FY17/18, up from EGP38.5bn in FY16/17, according to Minister of Supply, Ali El Moselhy. Bread subsidies will account for cEGP60bn, while other foodstuffs will be cEGP26bn, he said. Minister of Finance, Amr Al Garhy, has announced last week that the total subsidy bill would be worth EGP385bn, up from EGP285bn in the current fiscal year, with energy subsides (both for fuel products and electricity) are likely to exceed EGP200bn and a higher allocation will be set for cash subsidies.
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