Egypt's Bold Energy Subsidy Reform Drive

Egypt aims to eliminate energy subsidies and achieve cost recovery by December 2025, according to the IMF. This unwavering commitment was confirmed by Ivanna Hollar, the IMF mission chief for Egypt, emphasizing the goal to align retail fuel prices with recovery levels by the stipulated deadline.

Egypt remains steadfast in its mission to slash energy subsidies and achieve cost recovery by the close of 2025, according to a statement from the International Monetary Fund on Wednesday.

This commitment was affirmed by Ivanna Hollar, the IMF mission chief for Egypt, who addressed reporters about the country's plans made in the summer of 2024.

Hollar reiterated that the Egyptian authorities are determined to align the price of fuel products with cost recovery levels by December 2025, a goal that persists as the government's primary focus in the energy sector.

(With inputs from agencies.)