Egypt raises metro fare as part of austerity measures

2018-05-11 16:25
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Egypt's transportation authorities have more than tripled the standard subway fare from $0.11 to up to $0.40 as part of government austerity measures.

In a statement, the Transportation Ministry said the new fare will go into effect on Friday.

It also said prices will now be affected by the number of stations commuters travel. For example, a round trip of more than 16 stations would cost $0.79.

The ministry said that revenues will be used to improve the quality of the service provided to millions of Egyptians, adding that maintenance deficits have reached 94%.

Egypt secured $12bn from the International Monetary Fund in November 2016 to shore up the economy. To qualify, Egypt floated its currency, reduced subsidies and raised fuel prices.

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