Egypt Holds Steady on Bread Prices Amid Fuel Hike

Egypt will maintain its current bread prices despite an increase in fuel costs, according to Supply Minister Sherif Farouk. Egypt, a major wheat and gas importer, is adopting spending rationalization measures due to rising energy prices linked to geopolitical tensions, as stated by Prime Minister Mostafa Madbouly.

Egypt's government has pledged to keep bread prices unchanged despite a recent fuel price increase of up to 17%, according to Supply Minister Sherif Farouk on Tuesday.

The nation, which stands among the world's largest wheat and gas importers, is implementing 'spending rationalisation measures' as geopolitical tensions drive up energy costs.

This move comes as Prime Minister Mostafa Madbouly emphasized the political sensitivity surrounding any change to the price of subsidized bread, which impacts millions of Egyptians.

(With inputs from agencies.)