Egypt doubles capacity of ration cards

2017-06-21 19:31

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Cairo -  Egyptian President Abdel-Fattah al-Sisi says the government will increase the monthly capacity of ration cards through which it distributes food subsidies from $1.16 per person to $2.77 in an attempt to ease the effects of hard-hitting economic reforms.

Al-Sisi said in a speech on Tuesday night that the government has taken several measures to ease economic pressure. These include increasing retirement benefits by 15%, raising wages by 7-10% and expanding the scope of tax exemption eligibility.

Egypt floated its currency in November to meet a key demand from the International Monetary Fund, which provided a desperately needed $12bn loan.

Read more on:    egypt  |  north africa

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