Dr. Sahar El Damaty, Economic Expert, stressed the importance of President Abdel Fattah e-Sisi’s decision to triple the exceptional bonus
Dr. Sahar El Damaty, Economic Expert, stressed the importance of President Abdel Fattah e-Sisi’s decision to triple the exceptional bonus to subsidy cards to 300 Egyptian pounds from 100 starting in the current month. She believed that it is part of the president’s plan to alleviate the level of poverty and support the low income brackets population especially nowadays where huge inflation was witnessed worldwide.
In a phone call to (Cairo Local Time), El Damaty said that such a decision was taken in addition to creation of parallel supermarkets which include all the necessary products each family needs at acceptable prices.
On the strategic level, she added, the government was able to build a huge inventory of major commodities such as wheat and oil in order to support the population and also allocate around half million feddans in order to cultivate the land with wheat and support the farmers at the same time as a step for the country to start the self-sufficiency process over the next period.
Commenting on what is happening around us in the world now, she hailed Egypt’s ability to manage the inflation and curb it through different instruments of the monetary policy like interest rates.
Dr. Damaty noted that in Egypt we have around 50% of the population, which is about 103 million people, who are within what we call low income population. However, the government was able to put a new strategy that is based not only on the major economic variables such as including the private sector or working on increasing exports, but also on covering the social umbrella by increasing funds available for them, she said.
Finally, the economic expert considered the Decent Life initiative as quite important for supporting the social dimension and improving the quality of life in the poorest rural communities. She illustrated that approximately 700 billion pounds were allocated for this five-year program to support villages with education, health, and supporting women through small and micro enterprises; creating job opportunities through projects the government is undertaking not only through mega projects.
(Cairo Local Time) is aired from Sunday to Thursday on Nile TV International. This episode is conducted by Enjy Maher.
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