The prices of lowest-value Octane 80 fuel rose by 78 percent and the cost of diesel rose by 64 percent. The energy subsidies are cut in the new budget that suffers from huge deficit.
Lifting up the subsidies like that as well the increase in the price of fuel mean that there will be an increase in everything else using transportation in the society above them food supplies. It is like a chain reaction.
On Sunday a presidential law was issued with an increase in the sales tax of cigarettes 50% as well beer “200%” and wine “150%”. Of course I do not understand why the wine’s sales taxes would be less than the beer.
This decision is identical to Morsi’s decision to increase taxations and customs in 2012 , a decision he would take and then later had to cancel it after huge criticism and anger.
