Source: The Tahrir Institute for Middle East Policy
Author(s): TIMEP
Original Link: https://timep.org/commentary/expert-qa-on-egypts-price-hikes/
Over the past two months, Egypt has raised the price of the Cairo Metro, electricity, water, and fuel. Metro users will pay a base fare of 3 Egyptian pounds (LE) and as much as LE7, depending on the number of stops, from a flat price of LE2. Electricity prices were raised by 26 percent on average, while piped drinking water prices were raised by up to 45 percent and gasoline prices up to 50 percent.
The price raises and subsidy cuts are part of Egypt’s economic reform program implemented with the International Monetary Fund as part of an agreement signed in November 2016 for a $12 billion loan, but disproportionately affect poorer and middle-income Egyptians. Nonresident Fellows Osama Diab, Timothy Kaldas, and Mohamed El Dahshan discuss the price hikes, their connection to the IMF loan, and their effects on Egyptians.
Read more at Original Link.