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11.08.2016 11:27
Egypt Plans Up to 40% Electricity Price Hike for Households
The aim is to cut off energy subsidies
AUTHOR: publics.bg


  • © Theophilus Photography, flickr.com

Egypt will increase electricity prices by up to 40 percent for households as part of its plan to repair its finances by eliminating power subsidies entirely over the next few years. The latest price hikes range from 25 to 40 percent depending on consumption levels and will be applied retroactively from last month, Reuters reported, citing a statement of the Egyptian government.

Cairo, which is in the midst of talks with the International Monetary Fund (IMF) to secure a USD 12 billion three-year loan programme, is trying to cut its budget deficit through a number of reforms. They include tax increases and a plan to wean the population off a decades-old subsidy regime that has often benefited the highest-earning households.


TAGS: Egypt | energy | power price | subsidies | electricity | IMF 


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