CAIRO - 29 June 2017: New electricity tariffs will be applied in July, to be collected on August power bills, Prime Minister Sherif Ismail said during Thursday press conference.
Prices are expected to be raised 30-40 percent across all categories, even across the lowest consumption brackets, according to the government estimates.
The announcement comes hours after imposing
as price of 80-octane gasoline soared from LE 1.60 ($0.08) to LE 3.65 per liter, while the 92-octane increased from LE 3.50 to LE 5.00 per liter.
As part of Egypt’s economic reform program, launched in July 2014 to slash spending on fuel and electricity subsidies, the move attempts to curb an increasing budget deficit. The application comes gradually as the government announces new prices each fiscal year.
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