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How will public approval ratings for the Egyptian government change by end of 2024?
4
Resolution / Starting Odds
Increase • 33%
Decrease • 33%
Remain the same • 34%
Public opinion polls reported by credible organizations
Story
Egypt to Raise Subsidized Bread Prices to 20 Piastres Amid Financial Crisis, Says Prime Minister
May 29, 2024, 12:33 PM
Egypt is facing a financial crisis due to various internal and external factors. To address this, the government is implementing reforms supported by the International Monetary Fund (IMF), which recently disbursed $820 million to Egypt. As part of these reforms, the government has decided to raise the price of subsidized bread from 5 piastres to 20 piastres starting in June. This is the first price increase in decades and aims to reflect the true cost of bread production, which is around 125 piastres. Prime Minister Mostafa Madbouly stated that while the government remains committed to the subsidies program, it is looking to rationalize it and is considering a shift to a cash subsidies system, which he described as a 'more sustainable' solution.
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