Egypt raises fuel prices as part of IMF-backed reforms
- Egypt will raise petrol prices by up to 15 percent starting Friday, fulfilling conditions from the International Monetary Fund to access millions in loans.
- Egypt’s official gazette announced the price hike ahead of an IMF review of its $8 billion loan program, with the next tranche being $820 million.
- As part of its IMF bailout, Egypt plans to gradually eliminate fuel subsidies by the end of 2025, impacting its budget significantly, stated government spokesperson Mohamed El-Homossan.
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Total News Sources0
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
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