MPs consider doubling food subsidies next year: Bakry

CAIRO – 14 June 2017: Some parliament want to propose increasing food subsidy allocations to LE 40-50 per card, Parliamentarian Mostafa Bakry said Wednesday.

Bakry, a member of the Parliament’s legislative committee, said in a post on his official Facebook account that the hike would be up from LE 21 ($1.1) per card.

Head of the budgeting committee Hussein Eissa confirmed to Egypt Today that the government plans to increase food subsidies in the budget for fiscal year 2017/18.

Approved in March, the government set the subsidies bill for the next fiscal year at LE 385 billion, up from LE 285 billion in the current fiscal year.

The budget deficit is expected to record LE 370 billion, with forecasts to achieve a primary budget surplus for the first time since 2011.