Arab Finance: The Egyptian government will gradually raise the prices of various services in a way that will not add financial burdens on citizens and increase inflation rates, Prime Minister Mostafa Madbouly announced in a press conference.

Madbouly stated that the government aims to reduce inflation in Egypt to below 20% by the end of this year and under 10% by the end of 2025.

At the end of May, the government implemented a 300% increase in the price of subsidized bread, marking the first such adjustment in over three decades.