Public Management

Egypt sets a US$4.7 bln budget for staple food subsidy in 2022/2023

Tuesday, 19 July 2022 15:48
Egypt sets a US$4.7 bln budget for staple food subsidy in 2022/2023

(Ecofin Agency) - Egypt has one of the oldest food subsidy systems in the world. While poor global economic conditions are forcing many governments to make spending cuts, the country is instead increasing its budget dedicated to supporting staple food prices.  

Egypt will allocate EGP90 billion (US$4.7 billion) to cover food subsidies in the 2022/2023 fiscal year, Ahram Online reports. The amount, announced by Minister of Supply Ali Moselhy, is up by EGP3 billion compared to the FY2021/2022 budget dedicated to the same purpose. 

There are currently no specific details about the budget but, in recent years, a significant portion (up to 60%) of the staple food subsidy budget has always gone to the bread subsidy program, allowing Egyptians to buy a loaf of bread (baladi) at a subsidized price of EGP0.05 pounds (US$ 0.003), less than a tenth of the production cost. Other staples subsidized by Egypt include rice, cooking oil, sugar, beef, and chicken. 

The increase in the country’s staple food subsidy budget comes after several measures have already been taken to improve the efficiency of its subsidy program. For instance, it raised the wheat flour extraction rate from 82 to 87.5%. The measure, effective since July 15, authorizes public bakeries to produce 875 kilograms of flour from a ton of wheat against 820 kilograms previously. It aims to keep the volume of wheat imported by Egypt during the FY2022/2023 under check (around 500,000 tons). 

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.