2024-05-31 10:10:49
The Egyptian authorities introduced that it’s going to increase the value of bread by 300 p.c, from 5 piasters to twenty piasters, beginning subsequent month, for the primary time in a long time.
Egyptian Prime Minister Mostafa Madbouly mentioned, “The state will stay dedicated to offering assist to residents, particularly in primary items, and that the governance of the assist system ensures that assist reaches those that deserve it.”
Madbouly mentioned in a press convention: “The value of backed bread has not moved for greater than 30 years,” mentioning that “the price of a loaf of bread to the state is 1.25 kilos, whereas it sells it for five piasters.”
Madbouly added, “The Council of Ministers mentioned various necessary recordsdata, together with the assist system and starting to extend the governance of the assist system with the intention of lowering the monetary burdens borne by the state and guaranteeing that assist reaches those that deserve it.”
In flip, Minister of Provide Ali Al-Moselhi mentioned, “The brand new worth represents 16 p.c of the price of the loaf, which rose to 125 piasters from 115 piasters final 12 months.”
Al-Moselhi defined, “Egypt, the most important wheat importer on the planet, consumes 8.5 million tons of wheat yearly within the manufacture of backed bread.”
Egyptian President Abdel Fattah El-Sisi indicated just a few days in the past that “the federal government assist invoice for a loaf of bread amounted to 130 billion kilos yearly ($2.75 billion).”
Egyptian Prime Minister Mostafa Madbouly beforehand acknowledged, “The subsidy for a loaf of bread exceeds 100 billion kilos, noting that Egypt produces 100 billion backed loaves yearly and sells them for five piasters,” including that “the federal government doesn’t burden the citizen with a lot and helps most of the providers supplied to him.” .
Final up to date: Might 29, 2024 – 16:31
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2024-05-31 10:10:49