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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Egypt to Delay Electricity Price Hike by Six Months

Egypt Electricity Mostafa Madbouly Inflation Ukraine
Egyptian Prime Minister Mostafa Madbouly, speaks during a news conference to announce the Egyptian state's vision to deal with the global economic crisis at the headquarters of the Investment Authority in Cairo, Egypt May 15, 2022. (Reuters)

Egypt's government will postpone a decision whether to increase electricity prices by six months starting in July, Prime Minister Mostafa Madbouly said on Wednesday.

Egypt has experienced increasing price pressures in recent months and devalued its currency by 14% in March after facing economic headwinds from the war in Ukraine.

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