Egyptian President Abdel Fattah el-Sisi confirmed that subsidies will not be abolished but will be reorganized. During a speech at the opening of several projects in Badr city on Saturday, he stated that awareness is the most critical issue facing societies. The president emphasized the need to rearrange and redistribute the subsidy items provided to citizens, given the state's direction towards development and progress. He noted that annual subsidies exceed 275 billion Egyptian pounds, which means that over 10 years, subsidies would reach approximately 3 trillion pounds.
He added, "I am tackling issues that no one has addressed, and I am choosing the difficult path, not the easy one. The government is working with the aim of developing the country," confirming that any official in the state is required to exert maximum effort to change the current conditions. He also mentioned that developing rural Egypt would cost the state between 700 and 800 billion pounds over three years.
Additionally, Egyptian Prime Minister Mostafa Madbouly announced the completion of alternative housing for informal settlements, with 90% already occupied. Madbouly clarified that the total estimated cost for the projects executed to develop informal settlements during the period "2015-2021" amounts to 425 billion pounds. A few days ago, the Egyptian president called for the restructuring of bread subsidies in Egypt as part of a reform plan for the subsidy system and the restructuring of sectors that increase burdens on the state budget.
