June 2, 2018 / 5:36 PM / 16 days ago

CORRECTED-Egypt raises piped drinking water charges by up to 46.5 pct

(Corrects first paragraph to say .. Prime Minister Sherif Ismail ..not.. President Abdel Fattah al-Sisi)

CAIRO, June 2 (Reuters) - Egyptian Prime Minister Sherif Ismail approved measures to increase bills for piped drinking water by up to 46.5 percent, the official gazette said on Saturday, the second rise in less than year.

Egypt introduced sweeping economic reforms as part of a three-year, $12 billion International Monetary Fund loan programme signed in 2016, floating its currency and cutting subsidies to attract foreign investment that fled after a 2011 uprising.

Saturday’s decision included a 12 percent increase in fees for sewage.

Egypt raised drinking water and sewage prices by up to 50 percent in August.

A rise in fares on the Cairo metro last month ignited rare displays of public anger, and more subsidy cuts are on the way, including those for fuel and electricity.

Government officials say spending cuts will help revive an economy where subsidies have accounted for about a quarter of state spending. But the policies that include subsidy cuts and tax hikes have pushed up prices and eroded President Abdel Fattah al-Sisi’s popularity.

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below