Egypt To Raise Electricity Prices In The Next Few Days

The Egyptian government is planning to raise electricity prices. It's part of a 5-year plan to reduce energy subsidies, which consume nearly 20-percent of state expenditure. Meanwhile, the low international oil price has eased the burden on the state budget. Egypt is an importer of oil, and subsidises energy to consumers and producers. The modifications of the exchange rate, changes to the price of gas imports, and the high price of equipment needed for energy consumption are some of the factors that have led to the decision to withdraw the subsidies.