Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s government has decided to increase the price of subsidized “baladi” bread for the first time in 30 years. The price will increase by 400 percent from $0.001 per piece to $0.004 per piece. Egypt produces as much as 275 million pieces of flat bread per day. Even with this price increase the subsidized bread will still be priced at a fraction of production cost.
Egypt expects to see $30 billion in foreign investment in 2024/25, according to new budget figures. Inflation is also seen in the range of 19-25 percent for 2024/25. An Egyptian company reportedly submitted a feasibility study to Russian officials on a grain hub in Egypt. P...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
