Government to declare realistic policies to support low-income brackets

Egypt's Prime Minister Ahmed Nazif will deliver tomorrow the first government's policy statement since he assumed office a few months ago.

The statement, due to be delivered at the People's Assembly tomorrow, will assert the government's commitment to support the low-income brackets through a package of realistic policies to enable them afford costs of living.

Nazif will announce the government's commitment to spend about LE 100 billion for the basic commodities, services utilities subsidy including the sums allocated for health and education and LE 19.8 billion for pensions.

Official sources told Al-Ahram that the statement will include 40 executive measures to implement the ten programs the government had already declared to fight unemployment, tame prices and extend political participation.

On the economic level, the statement will refer to some important measures targeting improving the economic performance through three pivots: customs, taxes and banking sector reform to hit a 5 % rate of growth and increase the country's revenues of hard currencies.

The statement will also tackle the government's measures taken to facilitate investments and attract more foreign direct investments to provide about 600.000 jobs.