Egypt lifts subsidies on one of the country’s most important food products

Egypt lifts subsidies on one of the country’s most important food products
Egypt lifts subsidies on one of the country’s most important food products

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The Egyptian Minister of Supply, Ali Al-Moselhi, said today, Thursday, that the price of subsidized edible oil will increase to 25 Egyptian pounds ($1.60) for a one-liter bottle, adding that it may decrease if inflation eases.

He added in a press conference in Cairo that Egypt’s reserves of edible oil are sufficient for five months.

In June, the Egyptian government raised the price of subsidized edible oil by 23.5 percent to 21 pounds per liter bottle, after a global jump in the prices of raw materials.

Source: Reuters

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Egypt lifts subsidies countrys important food products

 
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