Egypt says it will raise electricity prices for households and businesses by an average of 15 percent, the latest in a series of austerity measures aimed at boosting the economy.
Electricity Minister Mohammed Shaker said Tuesday that rates will be raised in July.
He says the government aims to cut electricity subsidies to around $1.3 billion a year from the current level of around $2.9 billion. The government raised electricity prices last year by an average of 26 percent.
Egypt agreed to slash a range of energy subsidies in exchange for a $12 billion bailout from the International Monetary Fund in 2016. The economic reforms have aided Egypt's recovery from the years of unrest following the 2011 uprising, but have exacted a heavy toll on the poor and middle class.
Egypt to hike electricity prices in July
Moderators: DJKeefy, 4u Network
- DJKeefy
- Site Administrator
- Posts: 11025
- Joined: Thu Jan 13, 2005 4:08 pm
- Location: UK
- Has thanked: 652 times
- Been thanked: 1222 times
- Gender:
- Contact:
- Who2
- Egyptian God
- Posts: 7912
- Joined: Fri Jul 16, 2010 12:04 pm
- Location: Laandaan
- Has thanked: 1114 times
- Been thanked: 3214 times
- Gender:
Re: Egypt to hike electricity prices in July
Tell me about it..
"The Salvation of Mankind lies in making everything the responsibility of All"
Sophocles.
Sophocles.
- Major Thom
- Royal V.I.P
- Posts: 2885
- Joined: Mon Mar 30, 2015 5:45 am
- Has thanked: 187 times
- Been thanked: 375 times
- Gender:
- Contact:
Re: Egypt to hike electricity prices in July
Don't talk about your Leccie prices, here we have the biggest hikes throughout the EU at almost 13%. Our bill on average is 140€ every 2 months. What is the average bill in Luxor now following this hike?
-
- Similar Topics
- Replies
- Views
- Last post
-
- 8 Replies
- 1046 Views
-
Last post by Glyphdoctor
-
- 3 Replies
- 581 Views
-
Last post by Major Thom
-
- 11 Replies
- 1022 Views
-
Last post by Hafiz
-
- 3 Replies
- 883 Views
-
Last post by newcastle
-
- 9 Replies
- 964 Views
-
Last post by LovelyLadyLux