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The government on Thursday raised household electricity prices by as much as 42 percent, just a week after it increased fuel prices. The decisions add more pressure on Egypt’s 93 million population, half of which lives near or below the poverty line. Consumer prices rose 29.7 percent in the 12 months through June.
The government on Thursday raised household electricity prices by as much as 42 percent, just a week after it increased fuel prices. The decisions add more pressure on Egypt’s 93 million population, half of which lives near or below the poverty line. Consumer prices rose 29.7 percent in the 12 months through June.
The central bank last raised interest rates by 200 basis points in May, saying the move was to contain “demand-side pressures.”
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