Egypt is considering a shift from food subsidies to direct cash payments, as discussed in a forum established by President al-Sisi, Reuters reports. Ending the decades-old system where millions of Egyptians receive staples like bread, vegetable oil and sugar at reduced prices would be a significant move. Egypt currently spends 370 billion Egyptian pounds ($7.6 billion) on subsidies, with 36% allocated to food. Over 60 million Egyptians benefit from the discounted staples, with at least 10 million more benefitting from heavily subsidized bread.
Many economists have criticized the existing system as economically inefficient and argue that cash subsidies could better reach the most vulnerable. The International Monetary Fund, which is lending Egypt $8 billion, supports reducing untargeted subsidies to create more fiscal space for social protection.
Over 60% of Egyptians live near or below the poverty line, and rely heavily on subsidies as a bulwark against inflation.
Algerian President Abdelmadjid Tebboune, during a visit to Tripoli, announced plans for a tripartite Maghreb meeting that will exclude Morocco,
NATO leaders met in Brussels this week to discuss the growing threat posed by the terror group, especially in Africa,
Algerian army chief General Saïd Chengriha visited Mauritania from October 15-17, delivering a message from President Abdelmadjid Tebboune to Mauritanian
Egypt increased fuel prices by 10% to 17% likely driving up costs of goods and services. The government cited in
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