Egypt grants LE47 million to state-run newspapers ‘to offset losses’

The government will disburse LE47 million to the state-run newspapers, purportedly to compensate them for losses incurred during the 35 January Revolution, according to the cabinet’s facebook page which carried a memo about the agreement dated 10 February 2011 by Finance Minister Samir Radwan.

The amount was specifically designated for paying salaries and not for improving the editorial content of those publications.

Al-Ahram received LE12 million, Al-Akhbar LE10 million, Dar Al-Tahrir LE10 million, Rose Al-Youssef LE5 million, Dar Al-Hilal LE5 million, and October Magazine LE5 million.

Bloggers commenting on the memo said the money was granted to buy the loyalty of those papers so that they do not reveal new cabinet members' involvement in previous cases of corruption.

Translated from the Arabic Edition.


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