Egypt inches towards far-reaching food subsidy reform

Reuters: Egypt, once the breadbasket of the ancient Roman empire and now the world's biggest wheat importer, is paying a hefty price to keep its citizens fed with cheap loaves and other foodstuffs. The $5.5 billion which it spends each year on food subsidies, mostly on wheat, is a burden that it can ill afford as the economy falters and the budget deficit balloons after the uprising that ousted president Hosni Mubarak in February. But the financial pressure is not the only cost of the subsidy system;......

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