The Cabinet's Media Center denied media reports that the egyptian government is going to cancel bread subsidy points and replace them with supply commodities.
The center said it contacted the Supply and Internal Trade Ministry that made clear that the bread subsidy points system is still applicable and there is no intention to cancel it.
These rumors are meant to undermine the State and torpedo its efforts to serve citizens, it added.
Egypt currently distributes five loaves of subsidized bread per person per day. Citizens currently get 10 piasters for each loaf not purchased from their share every month, and they can use the proceeds – the so-called bread points – to buy other goods. The subsidized bread is sold at five piasters per loaf.
The center urged media outlets to verify the authenticity of any report before publishing it.
Bread subsidies are an explosive issue in Egypt, where over 70 million receive state rations. Core inflation in the country has soared above 30 percent since Egypt floated its currency in November, securing a $12 billion loan package from the International Monetary Fund (IMF) to support a government austerity programme.
Egypt operates a system in which each family receives a plastic card to buy five subsidised loaves per person per day. The government then pays bakeries a subsidy per loaf.
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