El-Sisi Says Price Rises to Save Egypt From Debt Drowning
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Egypt’s president defended his decision to raise energy prices as the only way to save the nation from “drowning in debt,” as Egyptians braced for a jump in the cost of other consumer goods.
The increases of as much as 78 percent in fuel prices, announced July 4, were an “important step” that has been delayed for 50 years, Abdel-Fattah El-Sisi told the heads of national news outlets, according to the state-run Middle East News Agency.