Mahlab: Current economic reform 2 last Cairo
Prime Minister Ibrahim Mahlab
Cairo - MENA
During the press conference on the fuel prices hikes, Prime Minister Ibrahim Mahlab also asserted keenness of the government to the poor, calling on all Egyptians to pay attention to the interest of homeland.
"The increase in fuel princes serves social justice," he said, adding the hikes also imposed on heavily energy consuming industries.
The new prices would generate new revenue that would be injected into service sectors, he pointed out.
About 50% of the income of the property taxes would be directed to development of slums, the premier said.
The budget would receive EGP 51 billion as a result of the increase, he said, noting EGP 22 billion of the revenue would be invested in the health and education sectors.
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