Egypt mulls cash support instead of subsidizing commodities: Minister

Egypt mulls cash support instead of subsidizing commodities: Minister

The Minister of Supply and Internal Trade, Ali Moslehi, announced Sunday that the government is considering converting commodity support to cash support, and waiting for economic conditions to stabilize. He assured that if this measure is taken it will be optional for citizens, and added that it comes within the government’s efforts to deal with …

The post Egypt mulls cash support instead of subsidizing commodities: Minister appeared first on Egypt Independent.The Minister of Supply and Internal Trade, Ali Moslehi, announced Sunday that the government is considering converting commodity support to cash support, and waiting for economic conditions to stabilize.

He assured that if this measure is taken it will be optional for citizens, and added that it comes within the government’s efforts to deal with economic challenges.

During a telephone interview on “On” TV channel, Moslehi said that if subsidized bread is offered at the market price, it would be at one pound instead of five piasters, as a loaf of bread costs the government a full pound, but it is sold for five piasters, and the government subsidizes it with 95 piasters.

The minister noted that Egypt has been impacted by global events, such as the Russia-Ukraine war and the events in