[Washington Post] Ellen Knickmeyer - For Egypt's more than 30 million poor, subsidized bread means survival. In 1977, a government move to lift the subsidies on bread sparked the only mass popular uprising in Egypt in the past half-century, that left more than 70 people dead. Anwar Sadat, who was president at the time, quickly restored the subsidies. Wheat prices worldwide have more than doubled in the past year, spurred by increased demand, rising fuel costs and bad weather. Egypt's economy is expected to grow by 7% this fiscal year, but the inequities between Egypt's poor and rich are stark. The luxury carmaker BMW reported a 20% annual growth in sales last year, but about 40% of Egypt's population lives in poverty, the World Bank said. The average monthly salary of an Egyptian civil servant is less than $100.
2008-04-10 01:00:00Full ArticleBACK Visit the Daily Alert Archive