Tag: neoliberalism

Rumors of rising railway ticket fares

Posted on By 3arabawy

From the Daily News Egypt…

News leaked Monday that Egypt’s Ministry of Transport plans to hike ticket fares for first-class railway vehicles and metro lines by 25 percent beginning July 1.
According to local reports, starting July 1 the ministry will raise prices of railway tickets for first and second-class air-conditioned vehicles to reach LE 140 for first-class tickets from Cairo to Aswan — up from LE 110 — and LE 68 for second-class tickets, up from LE 55.
The Ministry of Transport could not comment by press time, and sources at the Railway Authority could not confirm the news.

Egypt inflation tops 21%

Posted on By 3arabawy

From AFP:

Inflation soared to 21.1 percent in Egypt in May, its highest level in 10 years, official statistics carried by the state MENA news agency said on Tuesday.
The head of the CAPMAS statistics agency, Abu Bakr Al-Guendi, said the increase was mainly due to the increased cost of food staples such as bread.
Official inflation figures are released every two months, with the previous figure for March at 15.8 percent.
Year-on-year inflation in urban areas was 19.7 percent for May and 22.9 percent in rural areas, Guendi said. Urban inflation stood at 16.4 percent in April.
Egypt’s inflation seemed under control until the start of the year, but by March had surged to 15.8 percent year on year on the back of skyrocketing food prices.