Increase in Fuel Prices: The Regime’s Motto: Towards Further Impoverishment of Citizens

Statement by the Revolutionary Socialists

At a time when precursors to a popular uprising are emerging as protests against difficult living conditions in various parts of the world, the Egyptian regime has decided to raise fuel prices. This decision underscores an unprecedented level of disregard for the suffering of the poor classes within society. This comes despite the experiences of both Argentina and Sri Lanka, the latter of which is currently experiencing a widespread popular uprising after adopting the same Egyptian approach that involved IMF interventions and reliance on borrowing policies.

The recent increase in fuel prices, decreed by the regime, comes amidst high inflation rates, which have reduced the real incomes of millions in Egypt, making them insufficient to meet basic needs.

The regime’s persistent justification of international conditions is no longer convincing to anyone. In essence, the regime is shifting the burden of the crisis, resulting from its economic policies, onto the shoulders of the poor classes while continuing to grant privileges to significant investors and the wealthy classes.

The current increase in fuel prices includes diesel, which all business sectors, transportation, and agriculture depend on, paving the way for a new wave of price hikes that began with a 7% increase in transportation costs. Immediately after the rise was decreed, regime-controlled media rushed to justify it by citing inflation and the global crisis, completely ignoring the meager wages.

While the authorities continue their national dialogue sessions in an attempt to contain the consequences of their policies, which have driven millions of Egyptians towards and below the poverty line, the same authorities persist in burdening Egyptians with the cost of their economic policies. It has become evident that they intend to keep their approach the same but are accelerating their steps towards impoverishing more Egyptians in an austerity march that the regime started in 2014, which is unlikely to end without resistance.