Egypt adds 20 subsidised goods to bread smartcards

June 28, 2014 1:46 am

Egyptian supplies minister, Khaled Hanafi has said some 25 million Egyptian families, who already have electronic smartcards for bread purchases, will be able to use them to buy 20 different subsidised goods at grocery stores across the country from July, Reuters has reported. Subsidies of bread and energy products have traditionally eaten up around a quarter of Egypt’s budget, which is forecast to end the current fiscal year on June 30 in deficit to the tune of 12% of economic output.