Egypt increases drinking water rates by pipeline by up to 46.5 pct

CAIRO, June 2 (Reuters) – Egyptian President Abdel Fattah al-Sisi has approved measures to increase drinking water bills by up to 46.5 percent, the official gazette said on Saturday. increase in less than a year.

Egypt introduced radical economic reforms as part of a three-year, $ 12 billion loan program of the International Monetary Fund signed in 2016 that would float its currency and reduce subsidies to attract foreign investment that fled after a lifting of 2011.

Saturday's decision included a 12 percent increase in wastewater rates.

Egypt raised the prices of drinking water and wastewater by up to 50 percent in August.

An increase in fares in the Cairo subway last month caused rare signs of public anger, and more subsidy cuts are on the way, including fuel and electricity cuts.

Government officials say the spending cuts will help revive an economy in which subsidies accounted for about a quarter of state spending. But policies that include subsidy cuts and tax increases have raised prices and eroded Sisi's popularity.

Sisi was sworn in for a second term on Saturday. (Reporting by Omar Fahmy Written by Amina Ismail Edition of Edmund Blair)


Source link