{"id":548139,"date":"2022-07-27T04:00:55","date_gmt":"2022-07-27T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/"},"modified":"2022-07-27T04:00:55","modified_gmt":"2022-07-27T04:00:55","slug":"1-mn-more-families-to-receive-public-support-amid-economic-crisis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/","title":{"rendered":"1 mn more families to receive public support amid economic crisis"},"content":{"rendered":"

<\/a> Another 1 million families will be brought into the Takaful and Karama social <\/strong>security program<\/strong> as part of the Sisi administration\u2019s bid to protect vulnerable people against the rising cost of living, Ittihadiya<\/a> said yesterday. This will bring the total number of people in the program to 20 mn.<\/p>\n

This is more than we expected:<\/strong> In a televised address announcing the package of social protection measures earlier this month, Prime Minister Moustafa Madbouly said<\/a> the program would expand to cover another 450k families.<\/p>\n

About Takaful and Karama: <\/strong>The government launched the Takaful and Karama program<\/a> in 2015, supported by USD 400 mn from the World Bank. The program provides income support to the country\u2019s most vulnerable citizens via cash transfers.<\/p>\n

The decision is part of an EGP 11 bn package<\/strong> aimed at mitigating the impact of the economic crisis on the poorest. It will also see emergency aid distributed for the coming six months to 9 mn families, people with pensions lower than EGP 2.5k a month, and public sector workers earning less than EGP 2.7k. Action to improve food security will see 2 mn cartons of subsidized commodities a month, targeting vulnerable families.<\/p>\n

The breakdown:<\/strong> There are 1.6 mn (represented in 340k families) public sector workers earning less than a monthly EGP 2.7k, eligible for the state\u2019s emergency aid and 5 mn families where the breadwinner is receiving a pension lower than EGP 2.5k a month and there are an additional 4 mn vulnerable families also eligible for aid.<\/p>\n

DOMESTIC REAX- <\/strong>Trade Minister Nevine Gamea used a call to Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch, runtime: 13:02<\/a>) to break down the list of beneficiaries from the state\u2019s six-month emergency aid program. The story dominated last night\u2019s talkshows, as we note below.<\/p>\n

Is tax relief still on the table?<\/strong> Madbouly said earlier this month that the government is planning to raise the personal income tax exemption threshold to EGP 2.5k from EGP 2k, taking many low earnings out of tax. Ittihadiya didn\u2019t mention the plan in its statement yesterday.<\/p>\n

Inflation has hit Egypt hard this year:<\/strong> Inflation has risen to three-year highs this year<\/a> on the back of surging global food and energy prices caused by Russia\u2019s war in Ukraine, and the devaluation of the EGP, which has seen the currency decline more than 20% against the USD. The result: A jump in the cost of everything from food and fuel to transport and consumer goods, piling pressure on household finances.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another 1 million families will be brought into the Takaful and Karama social security program as part of the Sisi administration\u2019s bid to protect vulnerable people against the rising cost of living, Ittihadiya said yesterday. This will bring the total number of people in the program to 20 mn. This is more than we expected: […]<\/p>\n","protected":false},"author":1,"featured_media":548140,"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":[9717],"tags":[96,72,182,891,2178,2179,190],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-security","tag-abdel-fattah-el-sisi","tag-enterpriseam","tag-inflation","tag-madbouly-government","tag-security-program","tag-social-security","tag-social-welfare","wpautop","entry"],"acf":{"mongo_id":"f7f5d914-1be8-4dfe-93c8-767c06de3057","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/286.jpg","photo_position":"above","related_issue":[548125],"teaser":"","voice_url":""},"yoast_head":"\n1 mn more families to receive public support amid economic crisis - 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\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"1 mn more families to receive public support amid economic crisis\" \/>\n<meta property=\"og:description\" content=\"Another 1 million families will be brought into the Takaful and Karama social security program as part of the Sisi administration\u2019s bid to protect vulnerable people against the rising cost of living, Ittihadiya said yesterday. This will bring the total number of people in the program to 20 mn. 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This is\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/519.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572310,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/21\/govt-could-manage-takaful-karama-pension-via-dedicated-investment-fund\/","url_meta":{"origin":548139,"position":1},"title":"Gov't could manage takaful, karama pension via dedicated investment fund","author":"enterpriseam admin","date":"21 June 2020","format":false,"excerpt":"Gov't could manage takaful, karama pension assets via dedicated investment fund: Prime Minister Moustafa Madbouly discussed a proposal by the Social Solidarity Ministry to turn the takaful and karama pensions into a fund and invest pensioners\u2019 savings, according to a cabinet statement. The proposal also includes granting beneficiaries cash allocations\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590009,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/12\/more-families-to-benefit-from-takaful-and-karama\/","url_meta":{"origin":548139,"position":2},"title":"More families to benefit from Takaful and Karama","author":"enterpriseam admin","date":"12 July 2023","format":false,"excerpt":"The approved draft bills and amendments aim to support the education, food security, social subsidies, medical and recycling sectors.","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599522,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypt-looking-to-make-takaful-and-karama-handouts-contingent-on-childrens-school-attendance\/","url_meta":{"origin":548139,"position":3},"title":"Egypt looking to make Takaful and Karama handouts contingent on children\u2019s school attendance","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"Smart government policy: Takaful and Karama handouts will be contingent on school attendance: The Social Solidarity Ministry will make families\u2019 cash benefits under the Takaful and Karama welfare programs contingent on their children maintaining a school attendance record of at least 80% of the year, Deputy Minister Nevine El Kabbaj\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638754,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/12\/social-solidarity-ministry-signs-on-180k-new-families-to-the-takaful-karama-programs\/","url_meta":{"origin":548139,"position":4},"title":"Social Solidarity Ministry signs on 180k new families to the Takaful, Karama programs","author":"enterpriseam admin","date":"12 October 2017","format":false,"excerpt":"The Social Solidarity Ministry included 180k new families to the roster of Takaful and Karama beneficiaries, Minister Ghada Waly tells Al Borsa. The programs currently supports 1.9 mn families, a number which will rise to 2 mn after applications to join the program are revised by the end of the\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590655,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/30\/egypt-to-add-170k-beneficiaries-to-takaful-karama-safety-nets-soon\/","url_meta":{"origin":548139,"position":5},"title":"Egypt to add 170k beneficiaries to Takaful, Karama safety nets soon","author":"enterpriseam admin","date":"30 December 2019","format":false,"excerpt":"The government expects to add 170k Takaful and Karama beneficiaries in the coming period, Nivine Kabbag said at her first press conference as social solidarity minister, according to Masrawy. This will bring the number of beneficiaries of the cash subsidy programs to 3.4 mn families, or approximately 14 mn individuals.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548139"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548139\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548140"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548139"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548139"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}