Egypt to combat rising unsubsidised bread prices amid Russia-Ukraine war
Egyptian President Abdel-Fattah El-Sisi announced price controls on unsubsidised bread to combat prices hikes following the Russian invasion of Ukraine, a statement by presidential spokesman Bassam Rady said on Tuesday.
The decision was made during a meeting between Sisi and the Egyptian prime minister, minister of defence, minister of supply and internal trade, minister of interior, and director of intelligence to follow up on the availability of strategic quota of basic food commodities, especially ahead of the holy month of Ramadan that is expected to start on the second of April, Rady added.
The presidential spokesperson also noted that Sisi tasked the government with assessing the cost of unsubsidised bread, and instructed the ministry of supply and internal trade to supply bakeries with the required flour to limit further increases on bread prices, while at the same time requesting the interior ministry to monitor prices on the ground.
The Egyptian president had recently limited free and subsidised food rations that were provided to low-income bracket households, while, at the same time, banning rations to newlyweds, causing widespread criticism across the country.
Bread is a basic commodity for Egyptians, consumed during most meals of the day. The Russian invasion of Ukraine has had a grave impact on the Egyptian imports of wheat.
Egypt is the world's leading importer of wheat, a large portion of which is supplied by Russia and Ukraine.