Egyptian President Abdel Fattah Al-Sisi directed the government on Tuesday, 15 March to enforce price controls on unsubsidized bread nationwide in order to help curb the recent price surges, Presidential Spokesman Bassam Rady said in a statement. According to Rady, Al-Sisi instructed the Ministry of Supply and Internal Trade to supply bakeries with enough flour to mitigate any expected hikes in bread prices as well as entrusted the civilian police to ensure that price controls are enforced on the ground. The directives were given by the President during a meeting with Prime Minister Mostafa Madbouly, Minister of Interior Mahmoud Tawfik, Minister of Supply and Internal Trade Ali Moselhi, and Head of the General Intelligence Services Abbas Kamel. As a result of the Russian-Ukrainian war, the price of subsidized bread, which is highly dependent on imported wheat, has soared by nearly 50 percent over the past week. The price of subsidized bread loaves, however, remains unchanged at five piasters. There has been a global increase of wheat by 48 percent, cooking oil by 32 percent, corn by 30 percent, sugar by seven percent, frozen meat by 11 percent, poultry by 10…
Egypt Announces Price Controls on Unsubsidised Bread to Combat Price Increases
March 18, 2022
