Egypt to allocate 5 bln Egyptian pounds in compensation for rioting victims

10:29, February 05, 2011      

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The Egyptian finance minister said on Friday that the government will allocate 5 billion Egyptian pounds (854 million U.S. dollars) to compensate people suffering property damage due to massive protests that took over Egypt for the past 11 days, official MENA news agency reported.

"Damages will be paid as the government is keen on maintaining economic stability and easing the burdens of the citizens," the report quoted Egyptian Financial Minister Samir Radwan as saying.

Tax collectors will immediately start to receive requests by owners of small enterprises, stores and cars which were damaged in the riots, he said.

He added that a committee of experts will be formed to evaluate the damage, and the unemployment insurance system will also be activated to compensate those who lost their jobs due to the protests. (1 U.S. dollar=5.85 Egyptian pounds)

Source: Xinhua
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