The Egyptian government has postponed a third rise in electricity prices to mitigate burdens on citizens caused by the global economic crisis, President Abdel Fattah El-Sisi announced on June 13th during the inaugurating of the livestock, dairy, and mechanized slaughterhouses complex in Menoufia’s Sadat City, according to the Middle East News Agency (MENA).

A number of 17 million users will benefit from that decision, which means that 17 million apartments are paying less than 50% of energy prices, El-Sisi added.

El-Sisi stressed that the state is doing its best to mitigate the ramifications of global economic crisis on citizens.

The new electricity pricing program has been postponed for the third time due to international and local circumstances, but it should be taken into consideration that the cost of electricity production has already increased due to such circumstances which were coupled with a surge in oil prices, he maintained.

Currently, the price of natural gas that is used for electricity production is four or five times higher than before, El-Sisi remarked.

In a similar vein, Minister of Finance Mohamed Maait announced that the wheat and oil prices which reached a record-high, coupled with pressures on the Egyptian pound, is expected to cost Egypt over $10 billion in additional burdens.

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