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Finance Minister Momtaz al-Saeed on 25/05/2012 said that total subsidy for bread hit EGP16.2 billion in the State budget this fiscal year 2012/2013, subsidy for purchasing wheat from farmers also hit EGP5.5 billion, while the subsidy for other supply commodities hit EGP10.4 billion with EGP7.7 increase in 2012 despite difficult circumstances Egypt is suffering from.
The minister pointed out that the government is keen that the budget would meet the needs of citizens especially the limited income category. Total subsidies, grants and social privileges in the new State budget reached EGP145.8 billion against EGP157.8 billion of the present budget, at a decrease of EGP12 billion. This came as a result of rationalization of government expenditure which started a few months ago. Subsidy represented 27.3 percent of total expenditure.
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