Subsidized sugar price hikes next? Supply Minister Ali El Moselhy has proposed hiking the price of subsidized sugar to EGP 18 from EGP 12.6 per kilo, the minister said in statements to CNBC Arabia. The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar, El Moselhy added. The proposal has not been approved yet by the government.

Where does the proposal currently stand? The proposal hasn’t been brought to the cabinet yet, cabinet spokesperson Mohamed El Homsani told Ala Masouleety’s Ahmed Moussa (watch, runtime: 2:20). “No decision has been made, but it may be under consideration,” he added.

It’s been a busy week for subsidy cuts: The Madbouly government hiked the price of subsidized bread 300% — the first time bread subsidies have been touched in over 30 years — this weekend, as the government shifts from in-kind to cash subsidies. Electricity hikes are expected in July and fuel price hikes will likely follow suit.

To hike or not to hike? “The government is yet to take any binding decisions on hiking electricity prices,” El Homsani added (watch, runtime: 17:50).

Supplies are steady: Egypt’s strategic reserves of sugar are sufficient until February 2025, Al Arabiya quotes the minister as saying.

Remember: Unsubsidized sugar prices saw a lot of volatility over the past period, with shortages pushing private shops and supermarkets to hike prices to over EGP 55 a kilogram.

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