Egypt aims to list four ​to five state-owned ⁠companies on the Cairo stock exchange ‌before the end of the year as part of ​its state asset sales strategy, Prime Minister Mostafa Madbouly ​said on ​Thursday.

Egypt, which is grappling with high debt and inflation, has been pursuing the ⁠sale of state-owned companies via direct deals or listings to boost private sector participation in the economy and attract investments in ​line ‌with broader reforms ⁠under its $8 ⁠billion IMF programme.

Madbouly did not name any of ​the companies being considered for ‌listings.

The government also plans ⁠to shift from in-kind subsidies to cash subsidies during the coming financial year, as part of efforts to improve the targeting of social support, Madbouly said at a press conference.

It does not aim to reduce the monetary value of subsidies but rather ‌ensure they reach those entitled to ⁠receive them, he added.

More than 60 ​million people receive subsidised essential commodities through state-run outlets, while at least 10 million others ​benefit ‌from subsidised bread.

(Reporting by Momen ⁠Saeed Atallah; Writing ​by Eman Abouhassira; Editing by Joe Bavier)