3 important economic events that Egyptians await in July

July is the first month of the new fiscal year, and with the beginning of this year, Egyptians are waiting for 3 important economic events that will have a strong impact on people's lives.

The Egyptian economy is awaiting several crucial and important events during the month of July, on top of which is the determination of gasoline prices for the next 3 months, and the determination of new electricity prices, in addition to the government companies announcing investing in them or selling shares of them to strategic partners.

pricing of Petroleum Products

The Committee for Automatic Pricing of Petroleum Products is scheduled to hold a meeting within a few days to determine the prices of gasoline, amid expectations of a limited rise in prices.

According to the law establishing the Automatic Pricing Committee for Petroleum Products, the committee meets every 3 months to determine the price of gasoline and diesel in Egypt, and sometimes car gas and diesel, which is a sector that affects the lives of all citizens and the prices of commodities.

Automatic pricing commission

The Automatic Pricing Committee for Petroleum Products in Egypt announced an increase in the price of diesel by one pound per liter, so that the selling price in the local market became 8.25 pounds per liter. Gasoline 95.

With gasoline and diesel, Egyptians are also anticipating the announcement of new electricity chip prices for the year 2023, after President Abdel Fattah El-Sisi postponed the increase in electricity chip prices last year.

Electricity consumption segments

The decision to increase the new electricity consumption segments depends on the decision of the Council of Ministers, and there is no official decision issued yet.

A source in the Ministry of Electricity indicated that the news circulating about the start of the application at the present time is not correct, and that in the event of any decision occurring, it will be officially announced, and that the prices announced since 2020 will be changed, due to the change in the exchange rate and the increase in fuel prices, and that the ministry is waiting for the decision of the Council.

Government offerings programme

With regard to the government propositions program, the Minister of Planning and Economic Development, Hala Al-Saeed, announced on June 25, 2023, that good news will be announced about the government propositions program after Eid al-Adha.

She said that there have been deals that will be announced after Eid, and she said that we are committed to the Prime Minister's announcement, which was announced before, that all the targets have been achieved.

And on April 29, Dr. Mostafa Madbouly, Prime Minister, said that the government aims to achieve $ 2 billion before the end of June 2023 from the government offering plan.