Egypt receives $14bn second tranche of UAE's Ras El-Hekma deal    Biden offers to debate Trump under new terms, bypassing debate commission    Central Asian economies to grow by 5.4% in '24 – EBRD    S. Arabia's inflation edges up to 1.6% in April – GASTAT    Turkey's economy to see 3.0% growth in '25 – EBRD    US, EU split on strategy for Russia's frozen assets    Egypt's Al-Mashat to serve as vice-chair at EBRD annual meetings in Yerevan    NCW initiates second phase of Women's Economic Empowerment in Fayoum for financial autonomy    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Niger restricts Benin's cargo transport through togo amidst tensions    Malian MP warns of Western pressure after dialogue recommends extending transition    Egypt's museums open doors for free to celebrate International Museum Day    Egypt and AstraZeneca discuss cooperation in supporting skills of medical teams, vaccination programs    TSMC to begin construction of European chip factory in Q4 '24    Biden harshly hikes tariffs on Chinese imports to protect US businesses    Madinaty Open Air Mall Welcomes Boom Room: Egypt's First Social Entertainment Hub    Egypt and OECD representatives discuss green growth policies report    Egypt, Greece collaborate on healthcare development, medical tourism    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Al-Sisi inaugurates restored Sayyida Zainab Mosque, reveals plan to develop historic mosques    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EGP 3.9bn increase in food commodities in new budget
Actual food commodity spending in current fiscal year exceeds announced figure in budget by EGP 2.5bn
Doaa Farid Published in Daily News Egypt on 20 - 06 - 2015

A total of EGP 38.4bn has been allocated in the new budget to finance the bread and food subsidies programmes, developed during the current fiscal year by adopting the smart card system nationwide.
The figure represents a significant increase compared to the FY 2014/2015 budget, where subsidies on basic food commodities increased to EGP 34.05bn, up 10% from EGP 33.8bn in FY 2013/2014.
Regarding the actual amount of money spent on food commodities in the current fiscal year, Minister of Supply Khaled Hanafy said in May the government has spent EGP 37bn on bread and rationed goods.
The Ministry of Finance did not specify the amount of bread subsidies alone. In the current fiscal year, which will end on 30 June, the state's budget for subsidised bread registered EGP 24bn, recording an EGP 2bn increase from EGP 22bn in FY 2013/2014.
The government expects an increase in the number by 3 million citizens of those benefiting from food subsidies. The total number of beneficiaries would reach 70 million citizens.
The government has also allocated EGP 3.7bn to support farmers, as part of efforts to encourage the agriculture production to increase domestic production of wheat.
Over the current fiscal year, the government has adopted a new wheat system that has contributed to rationalising consumption at about 23%, and eliminating flour smuggling that was estimated at about 60%, according to Hanafy.
The government started applying this new system in subsided bread sales through smart ration and bread cards last September.
According to the new system, 150 loaves of bread are allocated to every citizen per month, which are registered on his ration card. What is not purchased from the monthly ration of bread is transformed into points through which the citizen can buy any necessary product from ration commodities vendors.
The number of ration cards in Egypt has reached 18.2m cards, serving approximately 62 million citizens. The volume of imported wheat over this year reaches 4.6m tonnes compared to 6.4m tonnes last year, saving about 40%.

Clic here to read the story from its source.