Liberation of exchange rate hiked burden to EGP 102bn per year
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Government cutting energy subsidies, preparing diesel and gasoline price increases, likely to exacerbate suffering of 26% of Egyptians under poverty line
Egypt has made various offers to the UAE, Saudi Arabia and Kuwait regarding a number of projects, including the establishment of laboratories for refinement areas in Ain Sokhna, the North Coast, Alexandria and Upper Egypt.
The government will raise natural gas, fuel oil, and diesel prices