Egypt increases food subsidies by 9.4% in FY 23/24 budget

Food subsidies received a 9.4 per cent funding boost in Egypt’s 2023/2024 budget, reaching 133.3 billion Egyptian pounds ($2.7 billion) compared to 121 billion pounds in the previous fiscal year’s budget, according to a statement by the Ministry of Finance on Sunday.

This substantial increase in food subsidies reflects the government’s efforts to mitigate the impact of economic reforms on the most vulnerable segments of the population and improve overall living standards.

Attribution: Ministry of Finance statement

Subediting: Y.Yasser