The Egyptian government allocated LE 10.5 billion of its budget to subsidized bread for fiscal year 2010/11, according to the Ministry of Finance, reported Al-Masry Al-Youm.

 

Of the total amount, LE 9.37 billion will cover the import of 5.9 million metric tons of wheat and 2.1 million metric tons of local wheat purchase.

The ministry has also allocated subsidies worth LE 1.1 billion for rice, wheat, and edible oil during the first week of the new fiscal year, which started on 1 July.