Egyptian Cabinet spokesperson Mohamed al-Hommosany announced that the government has devised a plan to gradually lift electricity subsidies within four years.
Egyptian Cabinet spokesperson Mohamed al-Hommosany responded to an inquiry raised over increasing electricity prices even despite new natural gas discoveries, which should ease the burden on government in operating electricity stations.
Egypt has received the second installment of the Ras al-Hikma deal from the UAE, worth $14 billion (LE655.7 billion), boosting the country's dollar resources which recently suffered from a shortage of hard currency, Prime Minister Mostafa Madbouly announced on Thursday.
Three Arab countries - Egypt, Algeria, and Morocco - are among the top ten largest economies in Africa in 2024, according to data from the International Monetary Fund (IMF).