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Egypt: 40% increase in price of subsidised baby formula

Scores of mothers blocked off traffic in Cairo on Thursday in protest against a cut in baby formula subsidies

September 2, 2016 at 11:48 am

The price of subsidised baby formula for 1-6 month old babies has increased by 40 per cent, the Director of the Egyptian Centre to Protect the Right for Medicine Mahmoud Fouad said.

The news came as scores of mothers blocked off traffic in Cairo in protest against a cut in baby formula subsidies.

The Minister of Health and Population Ahmed Emad denied the existence of a crisis in subsidised baby formula saying the country has 18 million cans of milk in stock. He went on to announce the implementation of an automated cards system for selling subsidised formula in nine provinces.

Last month, the International Monetary Fund initially agreed to extend to Egypt a $12 billion loan over three years. Details have not been released but cuts in subsidies and new taxes are believed to be part of the government’s reform programme that was critical in securing the loan, which is still subject to approval by the IMF’s executive board.