Egypt’s Gov denies increasing price of subsidized bread as of November

CAIRO – 21 October2022: The Cabinet media center dismissed reports that the government decided to increase the price of subsidized bread as of November.

In a statement on Friday, the center said it contacted the Ministry of Supply and Internal trade, which denied the reports, pointing out the government will continue bread subsidy for ration card holders at 5 piasters a loaf, a system from which 71 million Egyptians benefit.

It said the bread subsidy in the 2022/2023 budget is expected to reach EGP 73 billion.

The statement explained that the annual value of bread subsidy amounts to EGP 51 billion.