Egypt increased fuel prices by up to 15% ahead of IMF loan program review, aligning with commitment to remove fuel subsidies by 2025.
Egypt increased fuel prices by up to 15% ahead of the International Monetary Fund's (IMF) third review of its $8bn loan program, with petrol prices rising by up to 15% per litre, and diesel prices climbing to 11.50 Egyptian pounds ($0.24) from 10 pounds. The move aligns with the government's commitment to remove fuel subsidies by December 2025 as part of the IMF-backed economic reform program.
July 25, 2024
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