Photo used for illustrative purpose.

This came during a meeting organised by the Committee under the chairmanship of Egyptian Prime Minister Mostafa Madbouly, with the participation of a number of ministers and officials concerned.

In a separate development, the Prime Minister said that government will postpone a decision whether to increase electricity prices by six months starting in July.

Egypt has experienced increasing price pressures in recent months and devalued its currency by 14% in March after facing economic headwinds from the war in Ukraine.

Annual headline inflation accelerated to 13.3% in May, having risen steadily from 5.9% in December.

The government would bear the 10 billion EGP ($533.9 million) cost of postponing the electricity price rises, Madbouly said, in addition to the cost of commodity price rises.

Agencies