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In an effort to reform the economy in order to close the budget deficit, the Egyptian government has increased prices of drinking water and sewage fees up to 50%, the Associated Press reports.
Egypt’s water and sewerage agency spokesperson Mohi el-Serafi says the decision that takes effect in August, saves L.E. 1 billion in subsidies.
Egyptians will be paying between L.E. 00.30 and L.E. 00.45 for the consumption of up to 10 cubic meters (13.08 cubic yards) of water and from L.E. 00.70 to L.E. 1.20 for up to 20 cubic meters (26 cubic yards)
Egypt is taking steps to reform its economy including flotation of the currency. The measures meet demands by the International Monetary Fund, which secured a $12bn bailout loan to Egypt.
