Egyptian households are bracing for a significant increase in electricity costs, with prices set to rise by up to 50%, according to government sources.
The decision, announced on Monday, is part of the country’s ongoing efforts to phase out subsidies in line with the terms of a financial agreement with the International Monetary Fund (IMF).
The price hikes, which are expected to be implemented in stages, aim to alleviate the financial burden on the government and redirect funds towards other critical areas of the economy.
The move is part of a broader strategy to reduce Egypt’s reliance on subsidies and promote fiscal sustainability.
While the government maintains that these measures are necessary to stabilize the economy, concerns have been raised about the potential impact on low-income households.
Critics argue that the price increases could exacerbate existing economic hardships for vulnerable populations.
As the new pricing structure takes effect, it remains to be seen how Egyptian citizens will adapt to the higher electricity costs.
The government may need to implement targeted support measures to mitigate the impact on those most affected by the price hikes.