Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many a money-saving tip from a state body has been the last straw.
As families have struggled to purchase household staples, an Egyptian government agency praised an alternative, cheap protein source – “chicken feet, good for the body and the budget”.
“The bread I used to buy for one Egyptian pound now costs three,” said Rehab, 34, at a Cairo bakery, asking not to be named in full. Rationing signs in big supermarkets now warn customers they can each purchase only three bags of rice, two bottles of milk and one bottle of oil. With costs driven up further by soaring global energy prices, official inflation topped 18 percent in November.
Starting this month, tourists will have to pay for train tickets in dollars, said Transport Minister Kamel al-Wazir.Even the pro-government TV talk show host Amr Adib voiced fury when he urged banks to allow Egyptians abroad to at least “withdraw enough money to take a taxi to the airport so they can come home”.Egypt has in the past decade tripled its foreign debt to $157 billion. It has $33.5 billion in foreign reserves, of which $28 billion are deposits from its wealthy Gulf allies.
External debt has helped “to finance major projects in which they could earn significant money, namely large development projects entrusted to military engineers,” he said.
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