Egypt’s president Abdel Fattah El Sisi dispelled on Saturday rampant rumours about alleged plans by his administration to eliminate bread subsidies for those holding food ration cards. He said the state seeks to restructure the process of providing subsidies for Egyptians not eliminate the subsidies for various commodities, which amount to LE275 billion annually.
“We are not going to eliminate the subsidies,” the president said. “We are only going to put matters in order.”
The president was addressing a large audience of government officials, cabinet ministers, MPs and pressmen in Badr City on the outskirts of Cairo ahead of the inauguration of a new housing project in the city.
The project is made up of thousands of residential units to be specified for the civil servants whose administrations will be relocated to the New Administrative Capital, a sprawling new city that will house the ministries, the parliament building, a presidential complex and a huge number of other residential, entertainment and commercial projects.
President Sisi talked about a wide range of important issues, including the way ahead for Egypt.
He said he spent 50 years, before becoming the president of Egypt, deeply considering the problems of the country.
“I have been talking with and listening to thinkers for 30 years,” the president said.
He said his administration is working hard to solve national problems, including water shortages and proper housing for all segments of the Egyptian society.
The president noted that the bread subsidy system was formulated a long time ago and remained without any change for the past four decades.
“However, we cannot keep moving like this forever,” the president said.
He added that in 1900, Egypt’s population was nine million. Nevertheless, 100 years later, the same population jumped to 100 million.
“This population growth is far more than the capabilities of our country can bear,” the president said. “This growth can destroy our country altogether.”
