Egypt – Professor of Finance Economics at Cairo College, Hassan Al-Sadi, confirmed that financial assist within the kind that some discuss, via distributing funds to these entitled to assist, won’t be appropriate.
Al-Sadi mentioned, in an interview with the “Khalasat Al-Kalam” program broadcast on “An-Nahar” channel: “A big portion of the lessons that obtain assist are very weak mental lessons. Maybe a citizen will get 5 thousand kilos, for instance, and goes to make use of it for different issues, corresponding to medicine.” Or smoking.”
He added: “The in-kind and money assist is the Egyptians’ cash. The assist is 120 billion kilos that the state receives from taxes and charges. The state has no different sources of revenue, and due to this fact the state will probably be pressured to extend taxes and charges, which is able to result in burdening a bunch bigger than it bears.”
He continued: “The citizen eligible for assist shouldn’t be given cash in his hand, however slightly obtain a buying card that he can use within the distribution chains that exist inside the framework of the formal economic system. If each household obtained 5 thousand kilos in money assist, this implies 60 billion kilos each month going to the casual economic system.” Which causes issues for the state, and on this case the citizen should acquire a buying card.”
He defined: “Everybody entitled to assist in the US receives a buying card, and in line with his place of residence, he’s directed to the assorted distribution shops in his space and will get all his wants on the worth at which every other citizen buys;, It will be significant that the assist funds don’t enter the casual economic system, transferring the assist.” In variety to money is nice, however the implementation mechanism should be totally different.”
He acknowledged: “The acquisition card gives the citizen with fundamental wants solely, not leisure wants and different issues. The citizen should work to be able to entertain himself, not have another person work to ensure that the citizen who deserves assist to entertain himself.”
He continued: “If there was excellent news coming, the federal government would have introduced it, that we might modify the financial system in order that we might have distribution facilities based mostly on factors of sale. Once we put together this stuff, I’ll say that the state is contemplating changing in-kind assist into money via the acquisition card.”
Supply: An-Nahar
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2024-06-02 19:37:55
