Egyptian government reveals truth about price hikes on subsidized bread

Egypt’s Council of Ministers Media Center denied reports of a decision to raise the price of a loaf of subsidized bread starting in July next year.

The media center said in a statement today, Saturday, that in contact with the Ministry of Supply and Internal Trade, it denied these reports, stressing that the increase in the price of a subsidized loaf of bread from July next year is not true, and that no decisions on this matter have been made. rendered.

The ministry stressed the continuation of the system of issuing a subsidized loaf of bread to citizens on cards of just 5 piastres without any surcharge, which is a system that benefits 71 million citizens, provided that the state covers the difference in production costs.

She pointed out that periodic control campaigns have been launched at all bakeries to make sure that fortified bread meets all quality standards, with sanctions and fines for violators.

Remarkably, the price of a loaf of subsidized bread was fixed at 5 piastres, despite the increase in production costs, and the total number of cardholders at the Republic level reached about 64 million people, at a cost of 36 billion pounds sterling annually, which is equivalent to 3 billion pounds sterling per month An increase in subsidies of £100, £200 or £300, around £900m per month, to be paid from September 2022 to June 2023.

Source: RT