Egyptian authorities announced new measures to stabilize the economy. They include changes to the rules on the issuance of ration cards to those who they previously issued.
The reform will not affect more than 20 million citizens of Egypt, who are already receiving cards. The new rules limit the number of recipients of cards in the family. Also there are limits on income for those wishing to obtain subsidised food.
According to the Ministry of supply, the same family will be issued a card for no more than four people. The maximum income will be of 1,500 Egyptian pounds for employees and 1,200 pounds for pensioners.
At the end of 2016 Egypt has received from the International monetary Fund a loan of $ 12 billion. A condition of granting a loan was tough austerity measures and the deregulation of the exchange rate. As a result, in November 2016, the pound lost half its value.
Every year the government spends on food subsidies of 4.8 billion dollars.