Egypt's president slices bread subsidies
A controversial decision by President Abdel Fattah al-Sisi to cut bread subsidies despite an earlier promise not to tamper with the price of subsidized loaves has raised concerns that this move may trigger a wave of unrest reminiscent of the bread riots of 1977.
Egyptian President Abdel Fattah al-Sisi's call to raise the price of subsidized bread has sparked controversy in Egypt; supporters welcomed it as a wise and timely decision while critics condemned it as the last straw.
"It is time to increase the price of the 5 piaster loaf," Sisi said in reference to the subsidized bread provided to at least 60 million Egyptians. His comment came during the opening of a food production plant in Sadat City in the Northern Delta Aug. 3.
"Some might tell me to leave this [matter] to the government, to Prime Minister Madbouly or to the supply minister. But no, I will take it upon myself [to raise the price] in front of my country and my people," Sisi announced defiantly.
In an attempt to allay public concerns about the potential price hike, he continued, "I'm not saying we raise the price [of bread] significantly to 60 or 65 piasters — the cost of producing it — but it [an increase] is necessary."
