Egypt’s Ministry of Electricity announced a 16% to 26% increase in electricity tariffs starting January 2nd, marking the latest step in the government’s gradual removal of power subsidies. The move, reflected in February’s electricity bills, comes after a three-year delay in the government’s initial plan to fully eliminate subsidies by July 2022. However, the potential rise in industrial production costs could lead to increased consumer prices for goods and services. “The increase in electricity prices will remain within reasonable limits,” the government assured, pledging measures to mitigate the impact on low-income citizens. The latest increase aligns with ongoing efforts to streamline energy subsidies and improve fiscal sustainability.

Source: Daily News Egypt January 02, 2024 22:59 UTC