Friday 19 October 2018
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3 months ago

Egypt to hike natural gas prices by 75 pct in austerity move

Egypt said Saturday it was raising the price of natural gas for home and commercial use by up to 75 percent – the latest move in an IMF-backed austerity program that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public transport prices that are part of a $12 billion IMF loan program signed in 2016 that aims to lure back investors and lift the economy battered by political turmoil since 2011.

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