Egypt seeks to contain price hikes caused by Ukraine crisis
Egypt is dealing with soaring prices of bread and food products.
CAIRO — Egypt’s President Abdel-Fattah al-Sisi directed March 15 the Egyptian armed forces to offer basic food commodities to the neediest at reduced prices in coordination with the Ministry of Supply and Internal Trade and the Tahya Misr (Long Live Egypt) Fund.
In a meeting with the minister of defense, the prime minister, the minister of supply and internal trade and the minister of interior, Sisi called for “the distribution of food boxes to the neediest groups across the republic as the holy month of Ramadan draws near,” according to a statement by Egyptian presidential spokesman Bassam Radi.
Radi said that Sisi asked the government to “set the price of unsubsidized bread in a bid to reduce its price hike, and asked the Ration Investigation Office [affiliated with the Ministry of Supply and Internal trade] to ensure the implementation of the new pricing.”
The president’s directives came as Egyptian bakeries had illegally increased the price of a loaf of bread recently amid the ongoing Russian war on Ukraine.
