Egypt, Saudi Arabia coordinate on regional crises ahead of first Supreme Council meeting    FRA launches first register for tech-based risk assessment firms in non-banking finance    Egypt's Health Ministry, Philips to study local manufacturing of CT scan machines    African World Heritage Fund registers four new sites as Egypt hosts board meetings    Maduro faces New York court as world leaders demand explanation and Trump threatens strikes    Egypt identifies 80 measures to overhaul startup environment and boost investment    Turkish firm Eroglu Moda Tekstil to invest $5.6m in Egypt garment factory    EGX closes in red area on 5 Jan    Gold rises on Monday    Oil falls on Monday    Al-Sisi pledges full support for UN desertification chief in Cairo meeting    Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour    Egypt opens Braille-accessible library in Cairo under presidential directive    Abdelatty urges calm in Yemen in high-level calls with Turkey, Pakistan, Gulf states    Madbouly highlights "love and closeness" between Egyptians during Christmas visit    Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    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.