Egyptian Minister affirms that Govt will not remove Bread Subsidy

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The Egyptian Minister of Supply, Ali Moselhi affirmed that the government will not remove the subsidy placed on bread.

According o the minister, the General Authority for Supply Commodities (GASC) will still be taking responsibility for the actual cost of production of bread in diesel -fueled bakeries.

Ali disclosed that the government will distribute EGP 65 incentive per ardeb of wheat, set pricing mechanism for unsubsidised bread

This statement wasade following the increase in fuel prices, as the Egyptian government allocated EGP 90 billion in the budget for FY 2022/23 to cover food subsidies including bread subsidies for 71 million citizens holding ration cards.

Egypt’s Fuel Automatic Pricing Committee (FAPC) has increased fuel prices as a result f the global hike oil prices.