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Sunday, 18 December 2016

Supply Ministry to hike subsidized bread prices

And while we’re on subsidies, the government appears to be moving on that most sacred and untouchable of goods: bread. The Supply Ministry will announce a price hike for subsidized bread this week, due to the EGP flotation driving up production costs, Minister Mohamed Ali El Sheikh told Al Borsa. The ministry reached an agreement with bakery owners that will see the government temporarily covering the difference in fuel prices in exchange for the bakeries maintaining production levels.

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