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Egypt should compensate poor for subsidy cuts: IMF
- Egypt: Saturday, April 20 - 2013 at 01:52
The International Monetary Fund (IMF) has said poor Egyptians need to be compensated in cash transfers for the removal of subsidies, Ahram has reported. "You need to compensate the poor for the loss of subsidies, but at the same time, you also save money because you are not subsidising the rich," said Carlo Cotterelli, director in the fiscal affairs department of the IMF. "That is basically the advantage of eliminating subsidies and replacing them with cash transfers," Cotterelli told reporters.
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