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Egyptian authorities announced on July 21, 2018, a 75 per cent increase in domestic and commercial natural gas prices as part of an economic reform program supported by the International Monetary Fund (IMF).
This increase in gas prices follows a rise in the price of fuel, electricity and public transport decided in the same program of economic reforms launched in 2016 in return for a loan of 12 billion dollars from the FMI
According to a notice published in the Official Gazette of the Republic, the price of consumption of up to 30 cubic meters of gas was fixed at 0.175 Egyptian pounds ($ 0.0098) per cubic meter from August 1, against 0.100 pounds previously.
The consumer price of 30 to 60 cubic meters was set at 0.250 pounds against 0.175 pounds previously, while the consumption of more than 60 cubic meters was In Egypt, the billing period for gas consumption is monthly.
This economic reform program has helped reinvigorate the country's public finances and boost economic growth. However, it spawned inflation that reached 14.4% last June.
Moctar FICOU / VivAfrik
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