Egypt to cut prices of subsidised staples

18 November, 2019 12:00 AM printer

CAIRO: Egypt is to reduce the prices of subsidised food staples from next month, the supply ministry spokesman said Saturday, as the country’s economy shows signs of recovery.

“Prices of cooking oil, sugar, rice and flour will be reduced starting the first of December,” said spokesman Ahmed Kamal, reports AFP.

He said the measures aimed to make goods available “in suitable quantities and prices”. Last month, the government reinstated 1.8 million Egyptians to a food subsidy programme as instructed by President Abdel Fatah al-Sisi.

Also in October, fuel prices were cut by 25 piastres (0.015 US cents) a litre following several rounds of price hikes under a tough austerity programme that triggered popular discontent.