Sisi's bold start on economic reforms buys Egypt some time


  • World
  • Wednesday, 23 Jul 2014

CAIRO (Reuters) - Egypt's new president Abdel Fattah al-Sisi has made a head start on tackling the country's economic problems, managing to introduce long-awaited subsidy reform without stirring popular unrest.

Sisi's government, formed in June, announced this month it was raising prices of heavily subsidised energy products by up to 78 percent and slapped new taxes on dividends, capital gains and high-income earners.

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