EFG Hermes research boss thinks fuel price hikes will come later in 4Q17: The government might very well delay fuel price hikes slated for July until 4Q2017 to allow the market the chance to adjust to its basket of economic reform measures, EFG Hermes Research chief Ahmed Shams El Din told reporters on Tuesday, according to Al Shorouk. The price of petrol at the pumps will rise before the IMF arrives in town once more to progress on review economic reforms ahead of disbursing the third tranche of Egypt’s USD 12 bn extended facility, EFG economist Mohammad Abu Basha adds. MPs and some in government have been pushing avoid having both electricity and fuel prices rise at the same time next month.

Meanwhile the cabinet has also yet to decide on when to hike water prices despite a new pricing scheme being ready, an unnamed source tells Al Borsa. Water price increases have been set at between 29-71% depending on the consumption tier, while a price of EGP 2.25 per cubic meter for factories and residences that consume more than 40 cubic meters of water per day.