Daily News header

Egypt: Summary of Food and Economic Developments

By  

Several promising stories have recently appeared on Bloomberg's business wire service concerning developments in Egypt.

First, because of shortages and price increases, the Finance Minister has announced a waiver of import fees on basic food items.

The Egyptian Central Bank has also stated that the banks will open by this Sunday and that pensioners will get payments by Wednesday.

Egypt, being mostly desert, must import a large percentage of its good and, in fact, one of the sometimes ignored causes of political unrest is often lack of or high price of food which translates to starving poor people.

History shows there is little that can drive people to protest their government more quickly and violently than lack of food.

Simply put, when people get hungry they quickly get desperate and, unnoticed by many individuals with a steady income, food prices have been surging around the world with the price of staples such as wheat for bread nearly doubling in the past year.

Inflation is one cause, but wheat prices have surged in large part due to shortages caused by floods in Australia and Canada, as well as a bad crop failure in Russia due to drought.

In fact, even the country which made "Let them eat cake" a slogan for revolution is facing a surge in the cost of the famous baguette.

What all this means is that unless there is some major development in the next few months, as price increases in there are a lot of people in the world who are going to be short on food and consequently will have little patience with their authoritarian or even democratic governments.

John McCormick is a reporter, /science/medical columnist and finance and social commentator, with 17,000+ bylined stories. Contact John through NewsBlaze.

  Please leave a comment here     If it does not display within 10 seconds, please refresh the page

Related World News News

A shooter who killed one guard at the National War Memorial starting at 9:52 a.m. has been killed. The incident continued at the Canadian Parliament where the shooter was killed by Sergeant-at-Arms is Kevin Vickers. Ottawa downtown region under lock
Ongoing parliament under lock down, at least one soldier killed. This is an ongoing situation at this time and there are multiple reports of POSSIBLE additional shooting locations. Police are still actively searching for any possible additional shoo
John Child in Kathmandu looks at three things Nepal can do to improve their handling of weather events and the aftermath of disasters when they happen.
The Bipolarized documentary creates awareness of blind spots and pitfalls plaguing traditional mental health care so more informed decisions can be made.
The US is making progress to combat food insecurity. In 2013, the Feed the Future initiative helped nourish more than 12.5 million children.
As the seminar Cleaner Green: Understanding Low Carbon Development in India - was over on 16 September, I returned to my home city Guwahati to a massive flood in Assam and neighboring Meghalaya days after.

 

NewsBlaze Writers Of The Month



Popular Stories This Month

newsletter logo

NewsBlaze
Copyright © 2004-2014 NewsBlaze Pty. Ltd.
Use of this website is subject to our Terms of Service and Privacy Policy  | DMCA Notice               Press Room   |    Visit NewsBlaze Mobile Site