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The price for 92-octane gasoline was lowered to 7.75 Egyptian pounds a liter from 8 pounds
October 6th, 2019 - 06:00 GMT

Egypt Reduces Fuel Prices for First Time in Decade

Egypt has decreased fuel prices for the first time in decades, as it begins linking energy prices to international markets. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-7…","video_id":"7c2e50c8-9b5c-4163-9815-21d6d268309b","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"Top 10 Countries with the Highest Risk of Money Laundry"} Although the drop was only around three percent, Egyptians welcomed the move in hopes for further price cuts. International Monetary Fund (IMF) Mission Chief for Egypt Subir Lall lauded the pricing committee’s decision on Thursday to lower domestic fuel prices ...
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Egypt has imposed harsh austerity measures to try to right the economy and reduce the budget deficit. (Shutterstock)
November 4th, 2018 - 02:55 GMT

Egypt Strikes Right Chord With IMF on Next $2 Billion Loan Payment

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