Egypt: tariff subsidies to lift over a three year periodThe Egyptian Ministry of Electricity is preparing an implementation plan for the electricity increase set to come into effect in July. This is according to a ministerial source, who explained that the original plan was to lift electricity subsidies completely in July 2018; however, President Abdel Fatah al-Sisi has directed the government to phase out subsidies throughout three years. This according to the source is to alleviate burdens on people, Egypt Today reported. Economic reform programmeAccording to media, the decision to lift subsidies forms part of the north African country’s economic reform programme, which started in 2014 and included cutting subsidies and imposing new taxes. Egypt Today noted that the phasing out of subsidies will continue to take place every year until they are completely eliminated by the end of fiscal year 2021/22.

Source: The North Africa Journal January 29, 2018 07:07 UTC