Egypt to increase electricity prices in new fiscal year

Egypt will increase electricity prices sold in domestic markets in the next fiscal year in five months’ time, according to Minister of Electricity and Energy, Mohamed Shaker.

In a statement, Shaker confirmed that electricity subsidies would be “zero” in the fiscal year 2020-2021 after the subsidy was supposed to be terminated in the 2018-2019 year. The fiscal year begins in Egypt early July and runs until the end of June the next year, according to the Egyptian Budget Law.

Published in Middle East Monitor, 22nd February, 2018