Egypt raises taxes on cigarettes and alcohol

World News
06-07-2014 | 12:43
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Egypt raises taxes on cigarettes and alcohol
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Egypt raises taxes on cigarettes and alcohol
Egypt raised the sales tax on cigarettes by up to 120 percent on Sunday and doubled the tax on alcohol as part of a series of measures to curb the budget deficit and reform the economy.       

The decisions were taken by President Abdel Fattah al-Sisi and published in the state's official gazette, a day after a subsidy cut that increased the price of fuel and natural gas by over 70 percent, angering drivers.       

Egypt is trying to reduce its deficit to 10 percent of gross domestic product in the next fiscal year, from an expected shortfall of 12 percent in 2013/14.         

Sisi, who took office last month, has already raised the price of electricity and imposed a 10 percent tax on stock market gains. Prime Minister Ibrahim Mehleb said the electricity move and the new cuts in fuel subsidies would save the government around 51 billion Egyptian pounds ($7.13 billion) this year.     

($1 = 7.1501 Egyptian Pounds)        


REUTERS
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
World News
2026-03-26

Trump says taking control of Iran's oil an 'option'

LBCI
World News
2026-05-02

Spain calls Israel's detention of citizen from Gaza flotilla 'illegal'

LBCI
Lebanon News
2026-03-16

Lebanese president reaffirms commitment to state authority

LBCI
World News
2026-04-11

US intelligence indicates China preparing weapons shipment to Iran, CNN reports

Videos
d-none hideMe
LBCI
Lebanon News
2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

LBCI
Lebanon News
2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

LBCI
Lebanon News
2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

LBCI
Lebanon News
2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

LBCI
Lebanon News
2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

LBCI
Lebanon News
2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

LBCI
Lebanon News
2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

LBCI
Lebanon News
2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

LBCI
Lebanon News
2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Lebanon News
10:16

Rain in August? Sudden weather shift surprises Lebanon: Video

LBCI
Lebanon News
12:01

Walla: Israeli military strikes Ali al-Taher heights in southern Lebanon

LBCI
News Bulletin Reports
13:19

Wanted for war crimes: Why was retired Syrian Gen. Adel Issa detained in Beirut?

LBCI
News Bulletin Reports
13:10

Diplomacy vs. escalation: Southern Lebanon enters a critical new phase

LBCI
News Bulletin Reports
13:12

Waste crisis or new tax? Lebanon’s environmental fee raises questions

LBCI
Lebanon News
01:12

Six killed, two injured in airstrike in southern Lebanon as displacement reported in Nabatieh

LBCI
Lebanon News
04:11

Health Ministry: Seven killed, including three children and two women, in Israeli strike on Ansar

LBCI
Israel-Gaza War Updates
08:20

Jared Kushner may visit Israel next week for talks on Gaza: Reuters

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More