Egypt to increase cash subsidy programs in new budget: Minister

Ahram Online , Tuesday 16 Jun 2015

The ministry of social solidarity will allocate EGP11.5 billion for cash subsidy programs in the upcoming budget, compared to EGP6.5 billion spent in the current fiscal year, according to minister Ghada Wali.

The cash subsidy programs provided by the government include social solidarity pensions, 'Takaful' (a program targeting poor families), and 'Karama' (a program targeting elders and those with disabilities). In addition to other programs that offer help for those suffering from crises, Wali told Aswat Masriya.

The new budget for FY 2015/2016 has not yet been announced.

Egypt hopes to cut the budget deficit from 12.6 percent of GDP in 2013/14 to 8-9 percent by FY 2018/19, through a medium-term economic plan.



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