Finance Minister defends 11% reduction of gov’t bread subsidy

Sun, 02 Jun 2024 - 11:47 GMT

Egyptians pay only 15% of the cost of a subsidized loaf of bread even after the 15 piasters price increase, Minister of Finance Mohamed Maait told the parliament Sunday.

Egypt postpones electricity prices increase for 6 months, state to bear LE10B

Wed, 15 Jun 2022 - 03:43 GMT

President Sisi announced the postponement of the tariff increase and the reduction of electricity subsidies in Egypt, for the third time in two years,

Egypt restored subsidies for 1.8 million since February: ministry

Tue, 01 Oct 2019 - 12:54 GMT

Egypt has returned 1.8 million people to its food staples subsidy program since February following earlier cuts, the supply ministry said on Tuesday.

100,000 cases to join monetary subsidy program in FY2019/2020

Wed, 27 Mar 2019 - 03:05 GMT

The inclusion of those citizens will start on July 1 along with the beneficiaries of the pension offered by the Ministry of Social Solidarity.

No plans to raise electricity prices in 2018: IDSC confirms

Fri, 20 Jul 2018 - 01:14 GMT

The Egyptian Cabinet Information and Decision Support Centre denies reports on plans to increase prices of electricity.

Egypt cuts electricity subsidies, raises prices by avg of 26 pct for FY 2018-19 -minister

Tue, 12 Jun 2018 - 11:25 GMT

Egypt on Tuesday announced new cuts to its electricity subsidies, raising prices by an average of 26 percent in the 2018-2019 fiscal year beginning July, Electricity Minister Mohamed Shaker said on Tuesday.

Metro subscriptions reach 8,455 after hikes: Metro spokesman

Sun, 13 May 2018 - 10:43 GMT

Spokesperson for Metro service Ahmed Abdel Hady said the service is operating normally and the number of passengers was not affected by the new hikes in fares.

Could sweet potato bread curb Egypt’s wheat needs?

Sun, 13 May 2018 - 08:57 GMT

The new loaf contains 10 percent barley, 10-15 percent broken rice, 35 percent coarse wheat flour and 35 percent sweet potatoes.

'Real' metro ticket price EGP 16, hikes vital for developments: Minister

Sat, 12 May 2018 - 09:33 GMT

Transport Minister Hisham Arafat said despite recent hikes in metro ticket prices, removing government subsidy will raise the price up to EGP 16.

Mexican presidential frontrunner will not reverse energy reform: adviser

Sat, 14 Apr 2018 - 09:42 GMT

Mexican presidential frontrunner Andres Manuel Lopez Obrador will not reverse the country’s recent energy reform, one of his closest economic advisers said.

Gasoline and diesel consumption down 2-3%, subsidy bill hits LE 110B

Thu, 12 Apr 2018 - 03:10 GMT

The price of oil in the new budget is set at $67 per barrel, Minister of Finance said.

Cabinet sends budget to President before referral to Parliament

Sun, 25 Mar 2018 - 02:31 GMT

he Cabinet will send the new budget for fiscal year 2018/19 to President Sisi this week for approval before referring it to the Parliament by the end of March.

Fitch expects Egypt’s inflation to fall to 13% in 2018

Tue, 27 Feb 2018 - 02:56 GMT

Fitch anticipated in a report that the Central Bank of Egypt will cut rates further this year (another 200-300bps).

Giza supply official seized for taking over LE 1M in bribes

Thu, 03 Aug 2017 - 10:57 GMT

A new blow was given to the Ministry of Supply when the Giza supply official was seized for taking LE 1 million ($56 thousand) in bribes.

IDSC: Prices of bread, ration sugar, oil will not increase

Wed, 19 Jul 2017 - 03:59 GMT

The cabinet's Information and Decision Support Center denied the news fanned in media and websites about the increase of prices of subsidized bread.

Video: what did other countries do to remove subsidies?

Fri, 30 Jun 2017 - 10:48 GMT

The government took steps to gradually remove subsidies on fuel and goods in light of its economic reform program. Other countries adopted the same process.

Sisi announces 7 decisions to boost social safety network

Tue, 20 Jun 2017 - 08:38 GMT

President Abdel Fatah al-Sisi announced a number of decisions Tuesday that aimed to protect the poor and vulnerable people from economic reform impact.

Cabinet pushes out new what pricing

Sat, 25 Mar 2017 - 01:47 GMT

The Egyptian Cabinet approved new prices for sate-subsided wheat depending upon the quality of the crop, Minister of Agriculture Abdul Moneim El-Banna said in a press conference held in the Cabinet’s headquarters Wednesday.