Cairo, June 29 (EFE) .- Egypt's Council of Ministers today approved a sharp rise in fuel prices, ranging from 40 to 50 percent for gasoline and 100 percent for gas Natural, in a measure to reduce the public deficit. P>
The state news agency MENA reported that the price of the gas cylinder went from 15 pounds (about $ 0.8) to 30 pounds (1.66 dollars), while the cheapest and most consumed gasoline, 80 octane, rose 50% and 92 octane, 40%. P>
Prime Minister Sherif Ismail The impact of this measure on inflation, which is at a maximum level in three decades, will be around 4% to 5%. P>
Last month, the price hike was 30.57% According to the most recent official figures. P>
Egyptian oil minister Tarek al Mola told reporters that the Government's plan will soon be implemented To withdraw fuel subsidies, which are around $ 8 billion per year, according to official figures. P>
The withdrawal of subsidies is one of the commitments adopted by the Last year by the Egyptian Government with the International Monetary Fund (IMF) to receive a loan used to cover the public deficit. P>
Under this plan, Egypt liberalized The Egyptian pound last November, prompting the currency to depreciate by nearly 100%, which has had an impact on inflation, since Egypt imports the majority of the P>
Last December, Egyptian President Abdelfatah al Sisi called on the citizens, investors, businessmen and traders of the country to support the Government in the Economic crisis of the country.