Many baking enterprises purchasing subsidized flour, then resold it on the black market. It is expected that this subsidy reduction will allow us to stop fraud and flour to reduce wheat imports by 10%, said the representative of the Ministry of supply in Egypt.

Egypt tightens its fiscal policy, including reducing subsidies and increasing taxes, in anticipation of the beginning of a 3-year IMF loan program in the amount of 12 billion U.S. dollars.

Since August, the government ceasing to subsidize flour, will take subsidies for end products – bread, but in a truncated size. The economy of the state will be expected to 447 million U.S. dollars.

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