“Anger and indignation” are expressed on social networks by the residents of Egypt because the price of food at McDonald’s has increased by 40-50%. At the same time, one of the official explanations of the American restaurant is the increase in the price of fuel and wheat due to sanctions and Russia’s invasion of Ukraine. It should be noted that Russians are also suffering from the increase in prices, who – especially after the closing of the original MD in Russia – often go to McDonald’s in Cairo and especially in Hurghada. By the way, in Hurghada, McDonald’s is located next to the famous Sindbad Hotel in the new city center.
“The company has raised prices during the last period as a result of Russia’s invasion of Ukraine and the increase in the dollar exchange rate in Egypt,” the Egyptian media assure and quote such prices. The price of a Big Mac has increased from 59 Egyptian pounds to 88, Big Tasty – from 92 to 123, and complex lunch – from 123 to 165. Note that in the Russian equivalent it turns out that the same Big Mac has increased in price from 114 to 171 hryvnias.
The increase in food prices took place after the increase in fuel prices – they say in Egypt. Gasoline prices rose by 95 from 9.75 to 10.75 pounds per liter. At the same time, according to Egyptian food manufacturers and competitors, the price of products has not increased much. “Chicken prices are now completely stable and the reasons for the growth of McDonald’s food are not clear,” they assure.
Senior officials, in turn, have an explanation: the import of goods to Egypt has jumped by 90% per month since the beginning of the Russian invasion and the subsequent sharp increase in the prices of basic goods – such a statement was made by the Minister of Finance Mohamed Maait. He noted that after the spread of the coronavirus pandemic, there was a war in Ukraine, which led to an increase in the price of a barrel of oil, which reached $120 per barrel, and Egypt imports 120 million barrels for $7.2 billion; an additional burden of 2 billion. In addition, Egypt imports 12 million tons of wheat, becoming the number one wheat importer. As a result, all prices rise.
It should be noted that “anti-McDonald’s” sentiments are also growing in Egyptian social networks. “No sane person would pay LE700 for two hamburgers,” they say and call on citizens to boycott the company.