Egypt decides to increase the price of one of the most important food products in the country

Egypt decides to increase the price of one of the most important food products in the country
Egypt decides to increase the price of one of the most important food products in the country

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The Egyptian Minister of Supply, Ali Al-Moselhi, announced today, Thursday, an increase in the price of one of the most important food products in the country.

Al-Moselhi said that “the price of subsidized edible oil will be increased to 25 pounds ($1.60) instead of 21 pounds for a one-liter bottle, stressing that this decision came based on the increase in the cost of the production process, according to “Al-Masry Al-Youm” newspaper.

The Egyptian Minister of Supply had confirmed, earlier, work to study a new system for subsidized bread, including a complete adjustment of the price of the loaf, in accordance with the directives of President Abdel Fattah El-Sisi.

Al-Moselhi explained, in statements to Al-Mal newspaper, that “the study includes all aspects of the subsidized bread system, starting with the selling price of the loaf, the cost of its production to the state, its weight, the cost of a sack of flour, how bakeries work, the number of loaves per person on the ration card, and the system Spending points for subsidized bread.

He confirmed that the study of the new subsidized bread system after its completion was presented to Prime Minister Mostafa Madbouly, and then discussed with President Abdel Fattah El-Sisi, stressing that the study is based on preserving the capabilities of the state.

Finally, President Abdel Fattah El-Sisi said that it was time to increase the price of the subsidized loaf of bread, adding that the sale of the loaf should stop at 5 piasters, and that the time had come to increase the price. Al-Sisi indicated that the price of 20 loaves is equal to a cigarette, “this is something that must be stopped,” stressing that the pricing of the loaf, which has been in place for decades, is time to change it “to keep pace with the state’s policies.”

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Egypt decides increase price important food products country

 
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