File - People queue for subsidised bread at a bakery that uses smart card payment system in the Suez Canal city of Port Said, 170 km (106 miles) northeast of Cairo, February 24, 2014. (REUTERS/Mohamed Abd El Ghany)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Egypt's food subsidy bill will be 30 billion Egyptian pounds ($4.31 billion) this year, an amount that is expected to remain stable in the next fiscal year that begins in July, the new supplies minister said, pledging to tackle a smuggling "mafia".Hanafi estimated that around 7 million Egyptian pounds of the subsidies bill was wasted yearly due to the smuggling.State officials have in the past said that the government spends about $5.5 billion each year on food subsidies.Egypt buys about 10 million tons of wheat abroad and another 3.6-3.7 The program provides loaves for less than 1 U.S. cent per loaf – a state-regulated price unchanged since 1989 and equal today to a seventh of the real cost.
FOLLOW THIS ARTICLE