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Egypt reverses or reduces bread price hike by end of 2024?
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Resolution / Starting Odds
Yes • 50%
No • 50%
Official government announcements, major news outlets
Story
Egypt Raises Subsidized Bread Price by 400% to 20 Piasters Starting June 1
Jun 5, 2024, 06:21 AM
Egypt has raised the price of subsidized bread for the first time in decades, increasing the cost from 5 piasters to 20 piasters (0.42 US cents) starting June 1. This represents a 400% increase in the price of the popular 'balady' bread, which is expected to provoke unrest among poor and limited-income brackets. The last time Egypt hiked bread prices in the late 1970s, it led to riots. The recent price hike has made it harder for millions of Egyptians, including individuals like Gamal Ahmad, to get by, even though the bread remains heavily discounted.
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Yes • 50%
No • 50%
Positive • 33%
Neutral • 33%
Negative • 33%
Significantly reduce deficit • 33%
Reduce deficit moderately • 33%
No significant impact on deficit • 34%
Increase in consumption • 33%
Decrease in consumption • 33%
No significant change • 34%
Increase in prices • 33%
Decrease in prices • 33%
Prices remain stable • 34%
No protests • 25%
Minor protests • 25%
Moderate protests • 25%
Major protests • 25%
Increase • 33%
Decrease • 33%
Remain the same • 34%
Increase • 33%
Decrease • 33%
Remain the same • 34%