May 21, 2019 / 9:55 AM / 4 months ago

Egypt to raise power prices by 14.9% for FY 2019-2020 -minister

CAIRO, May 21 (Reuters) - Egypt will raise electricity prices by an average of 14.9% in the 2019-2020 fiscal year beginning in July, Electricity Minister Mohamed Shaker said on Tuesday.

Egypt has committed to deep cuts to energy subsidies as part of a three-year, $12 billion IMF loan programme it began in late 2016.

Reporting by Ehab Farouk; writing by Aidan Lewis; editing by Jason Neely

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