Egypt raises electricity prices by up to 42%

Posted online July 6, 2017 | 11:14 am

Egypt hiked electricity prices by up to 42 percent.

The jump is part of broader economic reforms to meet demands by the International Monetary Fund for a $12 billion bailout loan.

The government already increased gas prices by up to 55 percent. It also doubled the price of butane canisters used for cooking.

Read more from The Associated Press.

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