The Looming Crisis of Bread Subsidy Cuts in Egypt
Egypt’s poor and limited-income households are facing a dire situation as bread subsidies are set to be slashed next month, potentially impacting their ability to afford basic food requirements. The subsidies for the popular Egyptian “balady” bread have remained unchanged since 1988, but a recent decision to raise the price fourfold has sparked outrage.
Prime Minister Moustafa Madbouly announced the subsidy cut during a televised press conference, citing the rising cost of wheat as the reason behind the decision. The move comes at a time when almost one-third of Egypt’s population is living below the poverty line, struggling with malnutrition.
Local fact-checkers have refuted the government’s claims about the actual cost of bread, highlighting discrepancies in the official statements. The looming crisis has raised concerns about potential unrest in a country already grappling with economic challenges and high inflation rates.
With history echoing the past “bread uprising” in 1977, Egyptians are once again facing a critical moment where the availability of cheap bread is intertwined with social stability. The looming question remains – will Egypt witness another revolt fueled by soaring food prices and dwindling subsidies?