Egypt President Faces Dissent over Rising Prices

(Washington Post) Sudarsan Raghavan and Heba Farouk Mahfouz - Rising prices linked to economic austerity measures are taking a toll on Egyptian President Abdel Fatah al-Sissi's core middle-class supporters. While the economy is growing, steep subsidy cuts have driven up prices for fuel, cooking gas and electricity. In exchange for a $12 billion loan from the International Monetary Fund, Sissi agreed in 2016 to put austerity measures in place. Last week, the IMF praised Egypt's efforts, projecting that economic growth will reach 5.2% this year.

2018-07-20 00:00:00

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