Let Us Refuse to Bear the Cost of the Crisis and Loans

Statement by the Revolutionary Socialists

Once again, the government is raising electricity prices, disregarding the ongoing suffering of millions of Egyptians struggling to meet their basic needs, without even waiting for us to overcome the COVID-19 crisis. This is being done under the supervision of the International Monetary Fund (IMF) and in compliance with the conditions of the loans that the Egyptian state continues to borrow, embracing the unfair “economic reform” agenda that has proven to fail in dozens of poor countries.

The pandemic reveals the biases and priorities of the alleged Egyptian economic reform. Yesterday, the government announced a reduction in the price of natural gas for factories from $5.5 to $4.5 per thermal unit and a 10% reduction in electricity prices for factories, while today it announced an increase in the prices of the lower consumption brackets for the general public.

Instead of aiding the millions living below the poverty line, the government provides support and facilities to businessmen so they do not bear the cost of the crisis they created, which the pandemic has only deepened. Instead of facing the pandemic with a set of policies that favor the poor and workers, the regime confronts it with a criminal herd immunity tactic, manipulates infection numbers and rates, and, worse, continues borrowing and implementing conditions biased against the vast majority of Egyptians.

We do not ask the regime to stop favoring the interests of businessmen over the overwhelming majority of the Egyptian people. We call on the millions affected by the regime’s policies to unite, protest, and struggle with us for change. Let us together refuse to pay the price of loans that support businessmen and do not benefit us.