New State Budget Takes into Account Low-income BracketsSource: www.export-egypt.com 7/12/2014, Location: Africa |
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Minister of Finance Hani Qadri Demian said that the new state budget takes into account the low-income brackets and the poor.
The Minister noted that the reason behind cutting off subsidy on fuel and electricity is to ensure that subsidy would go to those, who deserve it. In an interview with Sky News Network, Demian denied that the new state budget serves the rich. He pointed out that the 20% poorest Egyptians receive only 11% of the subsidy, which violates the social justice principle. Minister Demian went on to say that the law has mechanisms to implement the maximum wage limit, asserting that there is no exception regarding the implementation of the maximum wage limit. |
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