/72681/the government-support-100-billion-loaf-yearly-at-5-piasters-despite-the-high-price-of-wheat
09:10 am – Thursday 18 May 2023
The Minister of Finance, Dr. Mohamed Maait, confirmed, in the financial statement on the state’s draft general budget for the fiscal year 23/24 submitted to the House of Representatives, that the allocations for subsidizing food commodities and a loaf of bread increased by about 47.8% during July-March 22/23 over the same period of the previous fiscal year, including It ensures the continuation of subsidizing about 100 billion loaves annually at a price of five piasters per loaf, despite the high prices of local and imported wheat, the cost of manufacturing, and the rest of the costs borne by the state treasury.
Maait pointed out to the increase in the disbursement of cash support for ration card commodities to about 622 million people, and the continued disbursement of additional support to the most needy groups, to about 10.2 million families.
It is noteworthy that the volume of the state’s general budget for the new fiscal year 2023/2024 (the state’s general uses) reached about 4.3 trillion pounds, compared to 3.066 trillion pounds for the current year 2022/2023.
The uses are divided into three basic components, the first of which is the expenses, which are the expenses related to the performance of the direct activity of the units and agencies included in the state’s general budget in terms of wages, requirements, interest, support and other general expenses in addition to the purchase of non-financial assets “investments” and the second is “acquisition of financial assets” and represents payments From the public treasury of economic bodies and companies in the form of loans and contributions to address the financing imbalances in those entities, and finally “loan repayment” which is represented in the installments and amortization of local and foreign loans according to the maturity dates set for them.
