|Date: Jun 13, 2018|
|Source: The Daily Star|
|Egypt cuts electricity subsidies, raises prices|
CAIRO: Egypt on Tuesday announced new cuts to its electricity subsidies, raising prices by an average of 26 percent in the 2018-2019 fiscal year beginning July, Electricity Minister Mohammad Shaker said on Tuesday.
Shaker said electricity costs for factories would rise about 41.8 percent and for households 20.9 percent.
Egypt has committed to deep cuts to energy subsidies as part of a three-year $12 billion IMF loan program it began in late 2016.