Egypt's government plans second phase of economic reforms

The Egyptian government is planning a second phase of economic reforms to be discussed by the cabinet before being presented to President Abdel-Fattah El-Sisi, Al-Ahram Arabic news website reported on Tuesday, citing anonymous sources.

According to Al-Ahram, the new measures will include imposing progressive taxes, linking the automated wage system with citizens' national identification numbers so as to distribute food subsidies based on monthly income.

The proposed system would provide a 100 percent subsidy for Egyptians who earn less than EGP 2,500 per month, 75 percent for those who earn less than EGP 3,500, and 25 percent for those who make less than EGP 4,500.

Egyptians whose monthly wages are more than EGP 4,500 will not be eligible for the food subsidy system.

The Ministry of Supply announced on Tuesday that it would give food subsidy recipients a three-month period to submit their updated information to benefit from the new system.