CAPMAS reports increase in subsidy rates during July, August

Subsidy offered by the Egyptian government has increased to 15.8 billion pounds during the months of July and August of the fiscal year 2015-2016 compared with 5.3 billion in the same period last year.

The increase was mostly allocated to subsidizing supply commodities, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a monthly report covered by MENA.

About 8.3 billion pounds went to the subsidized commodities compared with 4.4 billion during July and August of the fiscal year 2014-2015, the report said.

The petroleum authority got no subsidy in July and August of this year, which is the same as last year, the report added.

The report also pointed to an increase in bank deposits to 1.809 trillion pounds in August compared with 1.479 trillion during the same month last year.