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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Supply Min.: Raising Bread Prices Ensures Govt’s Ability to Continue Subsidies System


Wed 29 May 2024 | 11:01 PM
Taarek Refaat

The Minister of Supply Ali Al-Moselhi, confirmed that the bakeries’ work system “milling, baking, distribution” will not be affected by the new price of subsidized bread, indicating that the system is operating normally.

Al-Moselhi said - in his speech at a press conference following the Cabinet meeting in the Administrative Capital - that the decision to raise the price of subsidized bread aims to continue supporting the citizen while ensuring the government’s ability to continue this support, adding that the state will bear 84% of the value of subsidizing a loaf of bread.

He pointed out that some practices were leading to an increase in bread consumption, resulting in a drain on the state's general budget  and thus negatively affects the overall economic output.

He stressed that the stages of the support system for loaves of local bread is carried out through an automated system.

He pointed out that the total amount disbursed until this May amounted to 88,861 billion loaves of bread, expecting the total disbursed until the end of next month to reach 100, 728 billion loaves of loaf.