Thursday, March 28, 2013

Al-Jazeera Video: Egypt government targets bread subsidies



"With around 40 percent of the people in Egypt living on $2 a day or less, cheap bread is a social subsidy this country still cannot function without. 

There are many people in Egypt who do live on bread alone some days and very little more. Egypt's economy, post-revolution, is in deep trouble, as prices for all the basics are up; fuel and food. Unemployment is rising, and so is poverty. 

The Egyptian government is running out of money, so it is seeking a loan from the International Monetary Fund, and it wants to make cuts, including rationing public bread and cutting and changing payments to those who make it. 

Al Jazeera's Anita McNaught reports from Cairo."

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