Egypt Increases Gas Prices for Industries Amid Energy Crisis and IMF Reforms
Egypt has raised natural gas prices for major industries as part of reforms under an $8 billion program with the International Monetary Fund (IMF). The new prices, effective in May, target energy-intensive sectors such as cement, iron and steel, fertilizers, and petrochemicals. This move comes as Egypt transitions from a gas exporter to an importer due to declining output from key fields. The increase in gas prices is expected to raise production costs across key sectors, potentially impacting construction and agriculture. The decision is part of broader efforts to reduce energy subsidies and move towards market-based pricing. 
