{"id":542530,"date":"2022-01-02T04:09:31","date_gmt":"2022-01-02T04:09:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/"},"modified":"2022-01-02T04:09:31","modified_gmt":"2022-01-02T04:09:31","slug":"expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/","title":{"rendered":"Expect a decision by March on how bread subsidies will be reworked -Moselhy"},"content":{"rendered":"

<\/a> Subsidies were the topic of the night on the talkshows<\/strong> as Supply Minister Ali El Moselhy phoned into Ala Mas\u2019ouleety to discuss the government\u2019s plans to increase the price of subsidized bread (watch, runtime: 8:14<\/a> | 7:39<\/a> | 3:52<\/a>). The ministry is considering several scenarios \u2014 which include targeted subsidy cuts that ringfence the most vulnerable people and replacing bread subsidies with cash payments \u2014 and will take a final decision by the end of March, he said.<\/p>\n

Price rises were <\/strong>signposted last summer<\/a><\/strong> by President Abdel Fattah El Sisi<\/strong>, who suggested that the government would make a \u201cmodest\u201d reduction to bread subsidies for the first time in a generation. Bread is currently sold for EGP 0.05 per loaf but costs EGP 0.6-0.65 to produce.<\/p>\n

Mahmoud Mohieldin on Min Masr:<\/strong> To secure a high economic growth rate, Egypt needs to secure public, private, and foreign direct investment equivalent to 25% of its GDP, IMF Executive Director Mahmoud Mohieldin told Min Masr\u2019s Amr Khalil. Over the past decade, that figure has averaged 15-18%, meaning we need to work to attract more investments. The government\u2019s megaprojects are a key contributor to the country\u2019s overall investment levels, Mohieldin said, but private sector investments and FDI need to be tripled from their current figures to spur job creation and sustainable growth. This growth, especially when it is underpinned by a strong base of local industry and exports, will help keep inflation from biting citizens\u2019 pockets too hard, Mohieldin said, noting that the current national inflation rate is \u201creasonable\u201d (watch, runtime: 26:24<\/a>).<\/p>\n

You can read more on the proposed changes to the subsidy system<\/strong> in today\u2019s newswell, above.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subsidies were the topic of the night on the talkshows as Supply Minister Ali El Moselhy phoned into Ala Mas\u2019ouleety to discuss the government\u2019s plans to increase the price of subsidized bread (watch, runtime: 8:14 | 7:39 | 3:52). The ministry is considering several scenarios \u2014 which include targeted subsidy cuts that ringfence the most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[104,72,103,106,105,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542530","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-economy","tag-enterpriseam","tag-fdi","tag-last-nights-talk-shows","tag-mahmoud-mohieldin","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"217bd2c8-c468-4975-b723-ba0e372c9b2c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542511],"teaser":"","voice_url":""},"yoast_head":"\nExpect a decision by March on how bread subsidies will be reworked -Moselhy - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expect a decision by March on how bread subsidies will be reworked -Moselhy\" \/>\n<meta property=\"og:description\" content=\"Subsidies were the topic of the night on the talkshows as Supply Minister Ali El Moselhy phoned into Ala Mas\u2019ouleety to discuss the government\u2019s plans to increase the price of subsidized bread (watch, runtime: 8:14 | 7:39 | 3:52). 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