| 22 May 2024, Wednesday |

To all Lebanese, get ready for a “dollarised” bread bundle

Ali Ibrahim, the former Head of Bakeries owners, explained that “a bundle of bread, weighing approximately 830 grams, will be sold at 8,000 pounds in bakeries and 8,500 thousand pounds in stores,” noting that “the Ministry of Economy has set the price based on its study results without resorting to the platform.”

In an interview with the electronic weekly “Al-Anbaa,” Ibrahim explained that “the bakeries would sell bread at the official price set by the ministry and at the stipulated weight, and will not withhold from selling because we will not deprive the Lebanese of bread.”

“74% of the cost of making a bundle of bread has become “dollarised”, as the subsidy for fuels, yeast, sugar, and other components has been lifted, and only flour remains subsidized (and there is no talk of lifting subsidies on it in principle), and this means that any increase in the dollar exchange rate will affect the price of a bundle of bread,” Ibrahim explained.

Ibrahim concluded his address by warning that if the dollar continues to grow, the price of a bundle of bread may rise in the coming days, especially because it is rising on a daily basis.

  • Sawt Beirut International