Egyptian gov’t denies raising price of subsidized bread as of July

The Egyptian government has denied rumors about raising the price of subsidized bread starting next July, the Cabinet’s media center said in a statement on Saturday.

The Ministry of Supply and Internal Trade denied the rumors, affirming that authorities continue to sell subsidized bread for 5 piasters per loaf for eligible citizens.

The ministry added that 71 million citizens benefit from the subsidized bread, affirming that monitoring campaigns will be launched to ensure that bread is provided in line with all quality standards.

The ministry affirmed that penalties will be applied on violators.

Over three decades, Egypt has provided subsidized bread for 5 piasters ($0.0016). However, President Abdel Fattah El-Sisi ordered in August increasing the price of the subsidized bread to help meet othger social needs.

In February last year, Prime Minister Mostafa Madbouli said the government will raise the price of subsidized bread but will make sure that the vulnerable citizens are not affected.