Egypt to save EGP 13.7B in FY 2024/25 from subsidized bread price hike

Updated 5/30/2024 7:59:00 AM
Egypt to save EGP 13.7B in FY 2024/25 from subsidized bread price hike

Arab Finance: Increasing the price of a subsidized loaf of bread in Egypt is projected to yield savings of approximately EGP 13.7 billion in the upcoming fiscal year (FY) 2024/2025, Minister of Supply and Internal Trade Ali Moselhy told Asharq Business.

This amount will be directed to support the price of wheat after the global price increases, Moselhy said.

The price of subsidized bread loaf has been increased to EGP 0.20 as of June 1st.

Related News