Egypt raises electricity prices by up to 42 per cent in a bid to remove subsidies
6 July 2017 – Egypt’s electricity and energy minister announced an increase in electricity prices between 18 and 42 per cent depending on consumption. The measure is part of the country’s economic reform program that includes lifting energy subsidies completely within a few years. Egypt spent 64 billion Egyptian pounds (approximately US$3.58 billion) on electricity subsidies during the 2016/2017 fiscal year that has ended in late June. Read the full article on the Xinhuanet News website.