Egypt raises monthly food subsidies to 50 pounds per person: Sisi

Egypt is more than doubling monthly food subsidies to 50 Egyptian pounds per person from 21 pounds now, President Abdel Fattah al-Sisi said Tuesday.

Egypt has been hit by soaring inflation since it floated its pound currency in November, leading it to halve in value, and has said it plans to shield its poorest citizens from the effects of austerity measures aimed at reforming its economy. Source: Reuters