Egypt raises subsidized bread price for the first time in decades due to global wheat costs and currency devaluation.
Egypt raises subsidized bread price for the first time in decades due to rising global wheat costs and currency devaluation. The price increase from 0.05 to 0.20 Egyptian pounds per loaf affects 60% of the population living under the poverty line. Critics suggest the government should cut exemptions for military-owned companies instead. The new price accounts for 16% of the bread's production cost.
June 05, 2024
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