Source: Egyptian Institute for Studies
Author(s): Mohamed Ahmed Abbas
Egypt launched the so-called “economic reform program” in 2014, including removal of energy subsidies (in addition to flotation of the Egyptian pound and the introduction of a new VAT tax) within the framework of the government’s $12 billion loan agreement with the International Monetary Fund, which negatively affected the Egyptian people in general, and the poor and marginalized classes in particular.
This raised questions about the fate of the poor in Egypt and to what extent will their suffering increase. Removal of energy subsidies also led to an increase in transportation costs and was behind raising prices of most commodities, which escalated the suffering of the poor in Egypt.
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