Large portion of state expenditure goes for education, health, housing: PM

CAIRO - 15 July 2017: A large portion of the state expenditure is allocated for education, health, housing and programs doe supporting low-income strata, said Prime Minister Sherif Ismail on Saturday.

Ismail reiterated that there will be no increase in bread prices. He noted that subsidy for low-income brackets hit a total of EGP 90 billion.

Despite a recent hike in prices, the premier argued that the subsidy for petroleum products jumped from EGP 8 billion to EGP35 billion, without specifying a term for comparison.

As for an International Monetary Fund comment on a drop in the inflation rate in Egypt, Ismail said that the state is working on fulfilling its economic reform program.

"All economic measures will finally be in favor of citizens," he said.