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Phasing out energy subsidies as part of Egypt’s economic reform program: Impacts and policy implications

In order to address long-standing economic challenges, in 2016 the Government of Egypt (GOE) put in place a major economic reform program to restore macroeconomic stability and to promote inclusive growth. As a result, there are early signs that the economy is rebounding and Egypt’s economic outlook...

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Main Authors: Breisinger, Clemens, Mukashov, Askar, Raouf, Mariam, Wiebelt, Manfred
Format: Artículo preliminar
Language:Inglés
Published: International Food Policy Research Institute 2018
Subjects:
energy policies
low income groups
economic growth
social protection
computable general equilibrium model
subsidies
household consumption
exchange rate
prices
energy
impact assessment
Online Access:https://hdl.handle.net/10568/145545
Summary:In order to address long-standing economic challenges, in 2016 the Government of Egypt (GOE) put in place a major economic reform program to restore macroeconomic stability and to promote inclusive growth. As a result, there are early signs that the economy is rebounding and Egypt’s economic outlook is becoming more favorable. However, it is less clear how the ongoing reform program is affecting households, especially the poor. To shed light on this question, this paper uses an economy-wide model to estimate the distributional impacts of the energy subsidy cuts in 2014, 2016, and 2017, the currency devaluation at the end of 2016, and the expected complete phasing out of energy subsidies over the coming years.

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