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Egypt to raise subsidised bread prices 300%

Egypt, often the world s biggest wheat importer, will raise the price of heavily subsidised bread for the first time in decades, Reuters reported. The price of subsidised bread will jump.

Egypt to Raise Subsidized Bread Price by 300%, PM Says

Egypt, often the world's biggest wheat importer, will raise the price of heavily subsidized bread for the first time in decades, a sensitive decision that has been delayed for years. The price of subsidized bread will jump 300% to 20 piasters ($0.0042) from 5 piasters starting in June, Prime Minster Mostafa Madbouly said at a press conference on Wednesday. About two-thirds of Egypt's population benefit from a program that gives 5 loaves of round bread daily for 5 piasters a loaf.

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