Published by
Al-Araby
Al-Araby
Egypt is considering replacing a popular bread subsidy with cash payments for the poor to protect the budget from soaring global wheat prices, but domestic inflation and a history of protests could make the government opt for a less ambitious reform. Under the existing program, more than 60 million Egyptians, or nearly two thirds of the population, get 5 loaves of round bread daily for 50 cents a month, little changed since countrywide “bread riots” prevented a price hike in the 1970s. The handout is a lifeline to the poor, but is widely criticized as wasteful. High global prices for wheat, wh…