Egypt feels the pinch of rising food prices
CAIRO — The price of groceries was going up everywhere Souad Amer checked, so it was with nervous hope that she waded into a government-subsidized market in her Cairo...
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CAIRO — The price of groceries was going up everywhere Souad Amer checked, so it was with nervous hope that she waded into a government-subsidized market in her Cairo...
Egyptian businesses and international institutions, along with foreign investors in Egyptian debt instruments and securities, have welcomed the Central Bank of Egypt’s (CBE) decisions to increase interest rates and devalue the EGP, Choucri added.
Egypt is pushing for reforms following the disruption of the wheat market and soaring inflation. While experts see no immediate food scarcity, the future will depend on real reforms to prevent another uprising.
Egypt will apply for a new loan from the IMF after Russia's invasion of Ukraine caused inflation to spike in the Middle Eastern nation.
Mideast feels the pinch of rising food prices as Ramadan nears