According to a senior governmental official who chose to anonymously speak to Bloomberg, Egypt will receive the fifth installment of the $12 billion International Monetary Fund (IMF) loan in January.
This loan is the reason why our Government has been cutting down costs through a plan that gradually, albeit rapidly, has been stripping certain commodities off of their subsidies and thus increasing their prices.
One of these commodities is gasoline. The aforementioned senior governmental official also told Bloomberg that – according to the current plan – the new increase in 95 gasoline price will be announced by the end of this month and implemented in March of 2019.
