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Bread subsidies to hit record high in 2012/13: Exclusive figures
Egypt will spend LE16 billion subsidising bread - about a quarter of a pound per loaf - according to a detailed breakdown of the new budget obtained by Ahram Online
Ahram Online Published in Ahram Online on 06 - 06 - 2012

Egypt's government will raise bread subsidies to a record high in the 2012/13 financial year, figures for the new budget show.
The amount subsidised per loaf of bread will climb to 24.08 piasters (around a quarter of LE1). This is up from 19.8 piaster per loaf in 2011 and even higher than the 23.3 piaster figure seen in 2007/2008.
A loaf is eventually sold at 5 piasters to the end consumer.
Ahram Online has obtained as-yet uncirculated details of Egypt's budget for the 2012/13 financial year which starts in July.
Over the next few days Ahram Online will publish excerpts which show large or surprising variations on last year's figures.
The document shows that total bread subsidies are expected to rise to LE16.2 billion, a hearty 49.5 per cent increase over the 2011/12 financial year.
Total consumption of wheat is also seen to grow to 9 million tonnes in 2012/13, up from 7.3 million.
Local wheat producers will receive LE7.46 billion for their 3 million tonnes crop, 80 per cent more than the LE4.1 billion paid in the current financial year.
Bread subsidies make up 60 per cent of total food subsidies, the latter of which are valued at LE26.6 billion.
Food subsidies, in turn, make up 18 per cent of the total subsidies sum of LE145.8 billion ($24.155bn).
Subsidies and Grants (LE millions)
Year
2012-13
2011-12
Growth
Subsidies
Food
26,600
18,884
41%
Petrol
70,000
95,535
-27%
Electricity
5,000
5,000
0%
Export support
3,100
2,500
24%
Farmers
573
333
72%
Transportation
1,224
851
44%
Others
6,489
7,371
-12%
Total Subsidies
112,986
130,474
-13%
Grants
Grants
6,013
6,375
-6%
Supporting pension funds
20,700
10,700
93%
Social solidarity pensions
2,534
2,434
4%
Others
674
632
7%
Total Grants
29,921
20,141
49%
Reserves
2,930
3,841
-24%
Total Subsidies and Grants
145,837
154,456
-6%
http://english.ahram.org.eg/News/44079.aspx

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